Comments on: Menzie Chinn on the Merits of Fiscal Stimulus Via Improvements to Automatic Stabilizers http://www.nakedcapitalism.com/2008/01/menzie-chinn-on-merits-of-fiscal.html Sun, 22 Nov 2009 07:56:24 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Anonymous http://www.nakedcapitalism.com/2008/01/menzie-chinn-on-merits-of-fiscal.html#comment-7603 Anonymous Tue, 06 May 2008 03:20:00 +0000 http://www.nakedcapitalism.com/2008/01/menzie-chinn-on-the-merits-of-fiscal-stimulus-via-improvements-to-automatic-stabilizers/#comment-7603 I got caught in the 1992 recession in NYC and was unable to find work, ANY work save for a few days here and there, for 33 weeks. I'd never not had work before. I've never been more frightened in my entire life. Everything was completely out of my control. The federal UI extension literally saved me from becoming homeless. I got caught in the 1992 recession in NYC and was unable to find work, ANY work save for a few days here and there, for 33 weeks. I’d never not had work before. I’ve never been more frightened in my entire life. Everything was completely out of my control. The federal UI extension literally saved me from becoming homeless.

]]> By: Deborah http://www.nakedcapitalism.com/2008/01/menzie-chinn-on-merits-of-fiscal.html#comment-3041 Deborah Tue, 15 Jan 2008 14:17:00 +0000 http://www.nakedcapitalism.com/2008/01/menzie-chinn-on-the-merits-of-fiscal-stimulus-via-improvements-to-automatic-stabilizers/#comment-3041 Increasing unemployment is a bad idea, always has been. It is always followed by an increase in the number of workers collecting and less motivation to get your a$$ out there and find something.<br/><br/>The personal exemption before paying taxes is probably a way better idea. Increase that by $5k and off set it with a break even tax at the top end, perhaps something that causes a break even at around $100k and increases taxes for those above that income level.<br/><br/>You can't simply give cuts without offsetting them somewhere. It has always been my thoughts that the low income worker spends most of their money in the local economy. Indeed, they aren't making ends meet. Increasing unemployment is a bad idea, always has been. It is always followed by an increase in the number of workers collecting and less motivation to get your a$$ out there and find something.

The personal exemption before paying taxes is probably a way better idea. Increase that by $5k and off set it with a break even tax at the top end, perhaps something that causes a break even at around $100k and increases taxes for those above that income level.

You can’t simply give cuts without offsetting them somewhere. It has always been my thoughts that the low income worker spends most of their money in the local economy. Indeed, they aren’t making ends meet.

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