Worldview Item of the Day for 25 January 2008
Congress and the President are slowly wending their way toward an “economic stimulus” package that has nothing to do with the economy and will only stimulate election year politics…
Unless the citizens of the republic of, by, and for the people take matters into their own hands and spend as much of the $103 billion dollars destined to them as possible.
Yes, stimulus plans can work, as long as those being asked to stimulate actually do that thing, which means spending $300 to $1200 sometime late this spring or early summer instead of saving it or paying off debts.
This idea works because that would be a $103 billion shot in the arm for the economy. Yes saving that money pays off in the long run, and reducing debt makes paying the bills easier, but $103 billion in capital directly infused into the free market creates jobs, encourages business investment, increases salaries, and thereby makes the stock market go up.
Granted, this whole idea is an exercise in making a bad idea work as well as possible. A far better idea would be to expand and make the tax cuts permanent, but responsible citizens can make this work if we want to.
Personally, I plan to support innovation with some of my cut of that $103 billion. I’ll probably invest some of it in a small business of my own. In that way, I will be directly contributing to the ongoing vitality of the American economy, thereby increasing profits, incomes, even tax receipts. That makes everybody happy.
What are you going to do?