Congress is close to approving giving away $100 BILLION. I don't see how any conservative republican could say this deal has any "principles" they share.
It's a 100% free money give away.
Instead of giving it away, the government should DO something with the money. Such as...
- Hire more people to study global warming,
- Hire more people to clean up toxic waste sites (the only useful thing in this list)
- Hire people to build a bridge to no where
- Hire more private mercenaries for Iraq (and bring some troops home)
- Build public housing in 10 foot deep flood zones in New Orleans
- Accelerate the building of NASA's next rocket (not delay it like Obama wants to do)
FOXNews.com - House, White House Reach Deal 'In Principle' on Economic Stimulus - Politics | Republican Party | Democratic Party | Political Spectrum
PS for my NASA co-workers: NASA's next rocket is not a waste of money in itself, but throwing more money at it to accelerate it's development probably would be.
** UPDATE **
Apparently Carter tried this in 1980... From the The Volokh Conspiracy
*** More Updates ***
House Approves Economic Stimulus Plan
How can Democrats support this, saying how important it is to simulate the economy by giving money to people to spend, without also realizing how harmful it is to the economy when they TAX us and take the money to begin with? It just doesn't add up. Doing this is essentially admitting that we are OVERTAXED and that as a result the economy is in trouble. How can anybody that voted for this vote to raise taxes later (directly or by not extending the current tax cuts).
I still say it would be more stimulating for the government to DO something with the money instead of just giving it away. Giving it away is just a tax refund and PROVES we are over taxed.
***** Supporting Ideas *****
Here's similar thought The government has no money of its own
3 comments:
It's good to know that I'm not the only one who doesn't like this. Apparently Carter tried something like this in 1980.
From the The Volokh Conspiracy
I could not have said this better!!
The Government has No Money of its Own
"The government has no money of its own. Therefore, the government has no money to stimulate the economy. All it can do is return money that it took away from the economy to begin with."
I of course have mixed feelings. On the one hand, yay I really need the money! On the other there are several things wrong with this.
First where does the money come from? More national debt to foreign and potentially unfriendly nations (i.e. China) that we will eventually have to pay back as has been pointed out with interest. So I'm thinking maybe it is best to put this money aside and let it earn interest and use it to eventually pay the tax increase that will eventually come.
Further I agree that we are over taxed, but I don't think this money is an indication of that since I understand that the government will have to borrow to make this program work (somebody correct me if I am wrong on this point). Certainly if this money came from surplus revenue then it would be an indication of overtaxation. What it does indicate, however, is overspending. They are spending so much that they have to tax us so much that they can't afford to give a stimulus rebate without going further in debt.
What we really need is radical reform to cut the size of the Fed and permanent tax reductions to go with it. Oh and yeah we have to eliminate the debt, but there I go again dreaming...
DB
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