President Obama may be overdoing the conciliation thing if that is driving him and his economic team to include $300 billion in tax cuts as a major component of his stimulus plan. Congress and President Bush were wrong and stupid to send us $1,000 checks last year when the stakes were not nearly as high as they are today. Those checks stimulated nothing, and a tax break of $300 billion now would be a waste of money at best, and a further step down the ladder toward Depression at worst.
Here is how tax relief checks will be spent. Those having trouble
It is unpatriotic not to spend a tax break check, but what are strapped people supposed to do?
We Americans had our chance to save, and we blew it through profligate spending, especially on homes many of us could not afford. Now, however, it is almost unpatriotic to save, assuming you have enough discretionary money for that purpose. The best way to stimulate the economy, almost all economists agree, is to spend, spend, spend, not save, save, save.
Okay, if they really insist on giving us the tax break because it will
Give us all a government money card instead of a tax break check. When we reach our limit on the card, we're done.
I did not vote for President Obama because he promised to give all but the wealthy a tax cut. I voted for him, and donated to his campaign, because I thought he was "that one" who is smart enough and tough enough to do whatever it takes to turn this dead cat economy around, even at the cost of a little political capital.
