Karl’s economic stimulus plan

Posted by Karl on Jan 31st, 2009
2009
Jan 31

It seems that the government is dead set on spending somewhere in the neighborhood of $825 billion to “stimulate the economy.” With a hearty hat-tip to Louis Gohmert (R-Texas), let me propose the following. In 2007, the federal government collected $1.1 trillion in individual income taxes. Why not just declare a tax holiday for nine months and let people keep their own money? The cost would be approximately $825 billion in unseized revenue and would immediately place that money in the hands of consumers. Even better, into the hands of consumers who have earned it.

There are two reasons why this plan will never be adopted, let alone considered. First, if the American people were ever allowed to keep their own money, it would reveal to them the extent of government thievery. When the holiday ended, there would undoubtedly be clamoring for reduced spending in Washington and what elected official wants that? That’s where all their power resides – in the ability to take money by force from those who have earned it to reward those who haven’t.Plus, the boon that such a plan would have to employment in this country would immediately be reversed upon the expiration of the holiday.

The second reason is (get ready to cry), some people who are unemployed would miss out on the holiday. Neal Boortz made a very similar recommendation on his radio show and, I swear, this was the leading criticism of the plan. People who are unemployed, who are not producing, would be left out of the goodies. Maybe that would provide them an incentive to get a job. Just a thought.