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...instead of bureaucrats and politicians deciding how all of this money is going to be spent, why not let the people who actually worked for this cash make their own independent spending decisions for this money. How would you do that? Simple: declare a five-month tax holiday. From February through June everybody keeps their paycheck. No income tax withholding ... no payroll taxes. No income or payroll taxes owed. What will the people do with this money? What, are you crazy? They'll spend it, that's what. And they'll spend it on the stuff that they want! Not the stuff Obama promised during his campaign. Talk about stimulating the economy!
Originally posted by nyk537
Hate to break it to you, but with Obama in office and Pelosi and Reed running the rest of the show, we are going to try and spend and borrow our way out of this mess.
Hold on, it's going to be a long, bumpy ride.
Isn't spend and borrow the tactic the Bush administration instituted the moment the neo cons got into office.
I'm with FF; give us a flat tax and a huge sales tax on yachts and Rolex's and vacation homes. Time to give the middle class a break and stop taxing beer and beans.
Originally posted by nyk537
This idea has been floated around for a while now, back since the original stimulus package.
Hate to break it to you, but with Obama in office and Pelosi and Reed running the rest of the show, we are going to try and spend and borrow our way out of this mess.
Hold on, it's going to be a long, bumpy ride.
Originally posted by Iamonlyhuman
Why not declare a 5-month tax holiday and let the American people figure out where to spend it instead of the federal government.
alternative energy initiatives; investing in infrastructure improvements including the electric grid and broadband lines; modernizing classrooms; and computerizing health records. "The overwhelming majority of the jobs created will be in the private sector," he said, "while our plan will save the public-sector jobs of teachers, police officers, firefighters and others who provide vital services."
Originally posted by Benevolent Heretic
alternative energy initiatives; investing in infrastructure improvements including the electric grid and broadband lines; modernizing classrooms; and computerizing health records. "The overwhelming majority of the jobs created will be in the private sector," he said, "while our plan will save the public-sector jobs of teachers, police officers, firefighters and others who provide vital services."
If individuals were given a tax vacation, we'd either save the money or spend it on stuff for ourselves. In 6 months, we'd be right back here. Obama's plan has the added infrastructure elements, whose effects will last for years to come.
Disclaimer: I don't generally support bailouts and stimulus packages and I'm not at all sure this is going to "work", but I'm willing to give it a try.