Stimulus Package Nonsense
By Walter E. Williams
"To head off a recession, politicians, including President Bush, are calling for a stimulus package. The White House proposal is to give individuals and households tax rebates ranging from $800 to $1,600 respectively. Congressional Democrats, in addition to tax rebates, want a stimulus package that targets the poor through increases in food stamps and greater unemployment benefits. If we are headed into a recession, these proposed stimulus packages will make little difference. A far more important measure that Congress can take towards a healthy economy is to insure that the 2003 tax cuts don’t expire in 2010 as scheduled…"
By Walter E. Williams
"To head off a recession, politicians, including President Bush, are calling for a stimulus package. The White House proposal is to give individuals and households tax rebates ranging from $800 to $1,600 respectively. Congressional Democrats, in addition to tax rebates, want a stimulus package that targets the poor through increases in food stamps and greater unemployment benefits. If we are headed into a recession, these proposed stimulus packages will make little difference. A far more important measure that Congress can take towards a healthy economy is to insure that the 2003 tax cuts don’t expire in 2010 as scheduled…"
posted by HeavyHanded at
9:28 PM
2 Comments:
We don't need a drop in the bucket. We need real and lasting financial security that comes with knowing the government is going to show up tomorrow and rob us of our money.
I would bet that making the tax cuts permanent would create the economy boon the stimulus package is slated for. The reality is the tax cuts would have a profound and lasting effect, while the money throwers would create a single quarter bump.
By
Anonymous, at 4:10 PM
You are right. The kinds of economic stimulus packages being bandied about are going to have a negligible effect; and any positive effect will be short term.
How is 'continuing' unemployment wages going to 'stimulate' a sour economy?
If a person can make a valid argument as to why they should be continued, fine ... I will listen.
But, that is a separate problem and requires a separate debate. That is not a component of an economic stimulus package.
Government meddling into the markets only cause other problems.
Free markets need to be allowed to correct themselves. And they will
By
HeavyHanded, at 4:24 PM
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