Rush Limbaugh and Jake Hatley Weigh In
Rush's stimulus package idea.
I don't know if this is a joke or serious. Basically, Rush is proposing tax cuts and huge government spending. Which is of course exactly what everyone else is proposing. And as far as I can tell, it is not different in substance (but surely in details) of what Obama is proposing.
My view on the issue is that we're taking a cash advance from our credit card to pay our rent. So I'm not excited in the least bit. I'm being told that people are suffering and we need to stimulate the economy. So why not toss out 20 trillion dollars and cut all taxes? My point, I guess, is just because people need help doesn't mean the proposed "stimulus" will work. Particularly because we've done corporate bailouts before and really, we're just kicking the can down the road. Borrowing got us into this mess and now we're being told we need to borrow to get out of it.
But hell - what do I know about economics? I went to film school and spend my free time writing a goddamn blog instead of making money. So don't listen to me. Listen to the experts.
2 comments:
Thanks for the hat tip. Obama is proposing no cut to the capital gains or corporate tax rates (which are the highest of all industrialized nations), and those are the people that really stimulate the economy. I agree that tax cuts to the lower middle class will not stimulate anything but more savings and debt payoff. But we don't have a crisis in the lack of spending, we have a crisis in the lack of investment.
yes, this is all correct...although it's still no guarantee those tax cuts will stimulate investment, either (even if it's more likely.)
but politically, you're leaving yourself vulnerable by giving money to the rich and spurning the middle and lower classes who are hurting during the recession. i mean, even george bush isn't that cold.
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