Every news item I see makes this “stimulus package” seem more and more ridiculous. It is not government that powers the economy. Government doesn’t “make” anything, it is not a “producer.” It only confiscates and re-spends taxpayer energies (and money). The real economic driver in ANY nation is its businesses.
This bill is mostly a spending package. “Spending” is currently a more appropriate term than “stimulus”, because diving deep in debt to woo poor voters, and purchase pet projects – while stifling business – is indeed the antithesis of “stimulus.”
There are some items of spending that might help the US in a small way: direct moneys to infrastructure (energy and transportation comes to mind). I could see that updating the power grid (and protecting against EMP attacks at the same time) as well as updating the air traffic control system, and road improvements could all be under this category.
But most of the spending (“stimulus”) bill is just plain “bringing home the bacon.” The bacon comes from further (astronomical) debt, which is no way to run a household or a country. It is flat out irresponsible.
To really stimulate the economy, you need to undo the shackles that bind companies and individuals from thriving.
- First (before any of the following), you (and the rest of congress) needs to cinch up your belt, and start drastically cutting spending. Spending needs to be controlled more than anything, not “blowing the bank” like a teen with a platinum VISA.
THEN, FOR REAL STIMULUS:
- Try reducing the payroll taxes. Then EVERY citizen takes home more money (and spends it, “stimulating” the economy)
- Reduce the marginal tax rate from 25% to say 15%. When Reagan did this, money came streaming into the federal coffers, stimulating the economy (and of course his democratic congress offset that with an irresponsible spending spree, just like we appear to be doing now).
- Reduce the business tax rate. This gets the economic wheels turning and “stimulates” the economy.
- Institute State Fraud protection. There were so many stories of the government “bailout” of Hurricane Katrina victims where the money was completely wasted. Lets make sure this money is invested wisely.
- Make serious efforts to break us from our foreign oil addiction. This is a national security boost as well. Invest in domestic oil and gas drilling, clean coal, ethanol, renewable resources, and new nuclear plants. It sets us free, reduces energy costs and stimulates the economy.
- Abolish (or severely reduce) Capital Gains Taxes. If you want Americans to invest in America, give them a reason to invest in America.
- Protect the union worker’s “secret ballot” voting. “Open ballot” voting really means, “union thuggery and intimidation voting.” It forces workers to cower to union bosses with antiquated ideas, and squashes innovation and new ideas about how to make union workers really thrive.
- Abolish the death tax. This rolls money into the hands of the people who deserve it: those who actually inherit it! These people use it to build something – to “stimulate the economy.” This money doesn’t belong in Washington DC, where congress will use it to build more “bridges to nowhere” so they can claim they “brought home the bacon” to their state.
It should be noted that I don’t want you to bring home the bacon to our state. Honestly, every bit of spending in this crucial time could be considered a waste unless it directly does something that makes economic wheels turn. If our family were having a crisis, I would be OUTRAGED at one of my teens if they grabbed my credit card and charged up a big screen TV. On the other hand, if they wanted a helping hand from dad to get a business going, showed a responsible, well thought out plan, and showed the initiative to accomplish goals, I might get behind that. That is exactly where we are now. We have an American “family” crisis, and I don’t want you swiping my VISA and charging up big screen TV’s.
I want you to invest in what makes America work. Invest in business and economic drivers, and not in government projects.
Please, for the sake of the future of the United States of America,
Do the right thing, and consider heavily revising this spending bill to an actual “stimulus” bill.