The Instigator
bigbass3000
Con (against)
Losing
24 Points
The Contender
Mz.Independent
Pro (for)
Winning
27 Points

That the Economic Stimulus Act will successfully mitigate economic slowdowns next year.

Do you like this debate?NoYes+0
Add this debate to Google Add this debate to Delicious Add this debate to FaceBook Add this debate to Digg  
Vote Here
Con Tied Pro
Who did you agree with before the debate?
Who did you agree with after the debate?
Who had better conduct?
Who had better spelling and grammar?
Who made more convincing arguments?
Who used the most reliable sources?
Reasons for your voting decision
1,000 Characters Remaining
The voting period for this debate does not end.
Voting Style: Open Point System: 7 Point
Started: 3/10/2008 Category: Politics
Updated: 9 years ago Status: Voting Period
Viewed: 1,277 times Debate No: 3175
Debate Rounds (5)
Comments (5)
Votes (17)

 

bigbass3000

Con

Learning experience for Nat quals
Resolved: That the Economic Stimulus Act of 2008 will successfully mitigate economic slowdowns over the next year.

Economic Stimulus Act of 2008-The bill provides temporary tax incentives for businesses to make investments in their companies so that we create new jobs this year. The bill provides individual tax relief in the form of tax rebates. These rebates will amount to as much as $600 for individuals and $1,200 for married couples, with additional rebates for families with children. It was signed into action by George Bush on Feb. 13, 2008.

Mitigate-To become milder

Economic slowdowns-When the economy begins slow its economic growth, e.g. jobs, consumer products.

Con.1 Tax rebates Vs. Tax reductions
Back in 2001, we had the same type of idea proposed by Bush, to give rebates to the economy to stimulate the economy, but what you must understand is this idea did not work until tax reductions across the board. According to Brian M. Riedl, "Tax cuts vs. tax rebates," Washington Times, January 16, 2008. "
•Critics contend that rebates "inject" new money into the economy, increasing demand and therefore production.
•But every dollar that government rebates "inject" into the economy must first be taxed or borrowed out of the economy (and even money borrowed from foreigners reduces net exports).
•No new spending power is created; it is merely redistributed from one group of people to another.
Take the 2001 tax rebates, for example:
•Washington borrowed billions from the capital markets, and then mailed it to families in the form of $600 checks.
•Predictably, consumer spending temporarily rose, and capital/investment spending temporarily fell by a corresponding amount.
•This simple transfer of existing wealth did not encourage productive behavior; the economy remained stagnant through 2001 and much of 2002.
It was not until the 2003 tax cuts -- which instead cut tax rates for workers and investors -- which the economy finally and immediately recovered:
•In the previous 18 months, businesses investment had plummeted, the stock market had dropped 18 percent, and the economy had lost 616,000 jobs.
•In the 18 months after the 2003 tax rate reductions, business investment surged, the stock market leaped 32 percent, and the economy created 5.3 million new jobs; overall economic growth doubled. ", What this means is that even though the rebates will go in, because the Government has to take money to give money, it does not do anything. You have to have tax reductions plus tax rebates, to get anything done. It won't mitigate the problem; because we did the same thing last time and nothing happened until we added tax reductions to the money we were giving.

So, basically it won't do anything, but add to our debt, which will cause inflation, and yes, won't stop the slowdowns.
Mz.Independent

Pro

Mz.Independent forfeited this round.
Debate Round No. 1
bigbass3000

Con

I still am waiting for this man, who has backed out of something special, vote neg please, for me on this topic.
Mz.Independent

Pro

Mz.Independent forfeited this round.
Debate Round No. 2
bigbass3000

Con

I am addicted to debating, here is some chuck norris trivia. If you google Chuck Norris and you spell his name wrong, it doesn't say did you mean Chuck Norris, it says run before Chuck Norris finds you.
Mz.Independent

Pro

Mz.Independent forfeited this round.
Debate Round No. 3
bigbass3000

Con

I kinda want to debate, I want someone to debate this for certain sometime, because I am stuck with another round of three days, before I can get this one done.
Mz.Independent

Pro

Mz.Independent forfeited this round.
Debate Round No. 4
bigbass3000

Con

Why the heck does nobody want to debate the neg on this. Huh, why it is very important to me to find out.
Mz.Independent

Pro

Mz.Independent forfeited this round.
Debate Round No. 5
5 comments have been posted on this debate. Showing 1 through 5 records.
Posted by sadolite 9 years ago
sadolite
Hey jhillman, Bigbass and kelstwa, I am happy to report on your financial genius on economics. I made it a point to follow up you your financial advice. Here are the results since we last communicated:

Gold is down $60 an ounce as I predicted.

Thorium is currently not even mined in the U.S and only one Company is currently trading in this element and it has been acquired by another company over seas It was trading at a whopping .80 cents a share it is now defunct and no longer trading.

Banks: double digit losses on almost all of them.

So to recap, You kids don't know your a## from your face when it comes to economics. If i had taken your brilliant advice Id be piss broke!!
Posted by sadolite 9 years ago
sadolite
Because bigbass keeps having this debate over and over and doesn't know anything about economics when it comes to the real world, just what he reads in books.
Posted by SweetBags 9 years ago
SweetBags
how have 6 people voted pro when she never posted a single argument and had the burden of proof??
Posted by Mz.Independent 9 years ago
Mz.Independent
kinda dont want to debate so i quit for rite now
Posted by Johnicle 9 years ago
Johnicle
well, i might consider accepting your debate, however, your profile pic has chuck norris in it so im a little intimidated
17 votes have been placed for this debate. Showing 1 through 10 records.
Vote Placed by tmhustler 7 years ago
tmhustler
bigbass3000Mz.IndependentTied
Agreed with before the debate:--Vote Checkmark0 points
Agreed with after the debate:--Vote Checkmark0 points
Who had better conduct:--Vote Checkmark1 point
Had better spelling and grammar:--Vote Checkmark1 point
Made more convincing arguments:-Vote Checkmark-3 points
Used the most reliable sources:--Vote Checkmark2 points
Total points awarded:03 
Vote Placed by BrokenDoors 9 years ago
BrokenDoors
bigbass3000Mz.IndependentTied
Agreed with before the debate:--Vote Checkmark0 points
Agreed with after the debate:--Vote Checkmark0 points
Who had better conduct:--Vote Checkmark1 point
Had better spelling and grammar:--Vote Checkmark1 point
Made more convincing arguments:Vote Checkmark--3 points
Used the most reliable sources:--Vote Checkmark2 points
Total points awarded:30 
Vote Placed by A-ThiestSocialist 9 years ago
A-ThiestSocialist
bigbass3000Mz.IndependentTied
Agreed with before the debate:--Vote Checkmark0 points
Agreed with after the debate:--Vote Checkmark0 points
Who had better conduct:--Vote Checkmark1 point
Had better spelling and grammar:--Vote Checkmark1 point
Made more convincing arguments:-Vote Checkmark-3 points
Used the most reliable sources:--Vote Checkmark2 points
Total points awarded:03 
Vote Placed by Spiral 9 years ago
Spiral
bigbass3000Mz.IndependentTied
Agreed with before the debate:--Vote Checkmark0 points
Agreed with after the debate:--Vote Checkmark0 points
Who had better conduct:--Vote Checkmark1 point
Had better spelling and grammar:--Vote Checkmark1 point
Made more convincing arguments:-Vote Checkmark-3 points
Used the most reliable sources:--Vote Checkmark2 points
Total points awarded:03 
Vote Placed by SweetBags 9 years ago
SweetBags
bigbass3000Mz.IndependentTied
Agreed with before the debate:--Vote Checkmark0 points
Agreed with after the debate:--Vote Checkmark0 points
Who had better conduct:--Vote Checkmark1 point
Had better spelling and grammar:--Vote Checkmark1 point
Made more convincing arguments:Vote Checkmark--3 points
Used the most reliable sources:--Vote Checkmark2 points
Total points awarded:30 
Vote Placed by thnbgr 9 years ago
thnbgr
bigbass3000Mz.IndependentTied
Agreed with before the debate:--Vote Checkmark0 points
Agreed with after the debate:--Vote Checkmark0 points
Who had better conduct:--Vote Checkmark1 point
Had better spelling and grammar:--Vote Checkmark1 point
Made more convincing arguments:-Vote Checkmark-3 points
Used the most reliable sources:--Vote Checkmark2 points
Total points awarded:03 
Vote Placed by Creator 9 years ago
Creator
bigbass3000Mz.IndependentTied
Agreed with before the debate:--Vote Checkmark0 points
Agreed with after the debate:--Vote Checkmark0 points
Who had better conduct:--Vote Checkmark1 point
Had better spelling and grammar:--Vote Checkmark1 point
Made more convincing arguments:-Vote Checkmark-3 points
Used the most reliable sources:--Vote Checkmark2 points
Total points awarded:03 
Vote Placed by Teddy_Bear 9 years ago
Teddy_Bear
bigbass3000Mz.IndependentTied
Agreed with before the debate:--Vote Checkmark0 points
Agreed with after the debate:--Vote Checkmark0 points
Who had better conduct:--Vote Checkmark1 point
Had better spelling and grammar:--Vote Checkmark1 point
Made more convincing arguments:Vote Checkmark--3 points
Used the most reliable sources:--Vote Checkmark2 points
Total points awarded:30 
Vote Placed by aodanu16 9 years ago
aodanu16
bigbass3000Mz.IndependentTied
Agreed with before the debate:--Vote Checkmark0 points
Agreed with after the debate:--Vote Checkmark0 points
Who had better conduct:--Vote Checkmark1 point
Had better spelling and grammar:--Vote Checkmark1 point
Made more convincing arguments:-Vote Checkmark-3 points
Used the most reliable sources:--Vote Checkmark2 points
Total points awarded:03 
Vote Placed by twinkiesunite 9 years ago
twinkiesunite
bigbass3000Mz.IndependentTied
Agreed with before the debate:--Vote Checkmark0 points
Agreed with after the debate:--Vote Checkmark0 points
Who had better conduct:--Vote Checkmark1 point
Had better spelling and grammar:--Vote Checkmark1 point
Made more convincing arguments:-Vote Checkmark-3 points
Used the most reliable sources:--Vote Checkmark2 points
Total points awarded:03