ECONOMY

Fed Gives The People What They Want

The central bank took out the ax for the second time in just over a week, chopping off half a percentage point.

Forbes.com
Jan 30, 2008 | Updated: 4:27  p.m. ET Jan 30, 2008

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  • Posted By: expatincebu @ 07/10/2008 5:46:09 PM

    Hyperinflation, coming soon to the village idiots of America! Get those wheelbarrows ready so you can haul your cash down to the Walmart to buy a slice of bread.

  • Posted By: peggypwr1 @ 02/08/2008 9:00:43 PM

    Removal of the gas tax? I think not, we need the tax to fund our highway infstructure. In fact, the gas tax should be raised, we are an oil driven economy, our cars are bigger and heavier causing more strain on the interstate's asphalt.

    My plan is remove the federal income tax for people make $175K and less. To make up for the loss, add a consumption tax @ 10%. Consumption taxes hit everyone (Yes, I know poopr people too), but more importantly hit the wealthy who use many creative loopholes to avoid paying other tatxes.

    • Posted By: Survivor-mi50 @ 02/10/2008 2:47:28 PM

      In truth, those in the lowest middle income brackets and low income are now paying less in income tax than under the Clinton administration -- and the wealthy are now paying more than previously. The problem has been the rampant costs for the war, corporate support, and the drug industry by this administation, to the extent that we're trillions in debt now, having virutually immediately wasted our 'in the black' economy under Clinton within the first months of The Hedge's admininstration. Follow the money. Look and seek, where is the tax dollars on gas going now? To "highway infranstructure?" Where is the FICA $ going now? Surprise, surprise...not to SS.

  • Posted By: peggypwr1 @ 02/08/2008 9:01:54 PM

    Oh, and we need to raise interest rates, use the consumption tax to pay down the deficit. Let's make our dollar strong again. Wall St. has been given enough breathing already. Stop the inflation now!

  • Posted By: Survivor-mi50 @ 02/07/2008 7:14:20 PM

    The Fed gives what people what they want?? Not so. These rate drops only positively affect the largest corporations. If the "Hedge" wanted to help the middle class, there would be an immediate removal of gasoline tax, and credit card interest rates would flatten out, as well as increasing the minimum wage, food stamp program, and unemployment. Let's put credit where credit is due, and it's not with the non-US agency Federal Reserve Bank - that's a private corporation.

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