U.S. needs more taxes, spending cuts, economists say

| Print |  Email
Must Reads
Monday, September 24, 2012

The best way to reduce the deficit is through a combination of higher taxes and spending cuts, economists say.

The 236 members of the National Association for Business Economics recently surveyed say the country needs more fiscal stimulus through 2013, but by 2014 it should be time to throttle back. The reason for the delay: the sluggish nature of the country's economic recovery.

A majority of the economists favor extending payroll tax cuts, current marginal income tax rates and current tax rates for dividends and capital gains for most or all taxpayers through 2013. Deep tax cuts that were passed under President George W. Bush expire at the end of December unless Congress takes action. At the center of debate: extending the cuts for everybody. or just households earning less than $250,000 a year.

Read more at The Statesman Journal.

{biztweet}spending cut{/biztweet}

 

Comments   

 
Guest
0 #1 Do economists create jobs?Guest 2012-09-24 18:40:24
When job creators see opportunity they will invest and as a side-effect will create new jobs. For many of us who create jobs our income is pass through - meaning we get taxed personally on all business earnings, even those earnings plowed back into the business as retained earnings. If I were taxed less I could grow my business quicker - which adds jobs. Economists (and journalists) don't create jobs - they just theorize about it.
Quote | Report to administrator
 

More Articles

Is there life beyond Reed?

September 2015
Wednesday, August 19, 2015
BY GARY THILL | PHOTOS BY JASON E. KAPLAN

A storied institution climbs down from the ivory tower.


Read more...

Reader Input: School Choice

September 2015
Thursday, August 20, 2015

Which of the following would be most effective in reducing the cost of operating a public university in Oregon?


Read more...

Loose Talk

July/August 2015
Friday, July 10, 2015
BY AMY MILSHTEIN

When gossip crosses the line.


Read more...

Reader Input: Road Work

March 2015
Wednesday, July 15, 2015

Oregon's roads are crumbling, and revenues from state and local gas taxes are not sufficient to pay for improvements. We asked readers if the private sector should help fund transportation maintenance and repairs. Research partner CFM Strategic Communications conducted the poll of 366 readers in February.


Read more...

Portland’s long-distance bike commuters

The Latest
Monday, August 03, 2015
Matt KellyresizethumbBY KIM MOORE | RESEARCH EDITOR

Pushing the extreme.


Read more...

Baby. Boom!

September 2015
Wednesday, August 26, 2015
BY LINDA BAKER

A new co-working model disrupts office sharing, child care and work-life balance as we know it.


Read more...

Downtime with Jill Nelson

September 2015
Wednesday, August 19, 2015
BY JACOB PALMER

Live, Work, Play wit the CEO of Ruby Receptionists.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS