Number 44: New stimulus package imperfect but necessary
Richard Fogal
Issue date: 2/17/09 Section: Opinion
This also wasn't just a "spending bill." About 36 percent of this bill was composed of tax cuts, although they're tax cuts to middle class workers whom the Republicans claim "don't pay any taxes." But people who don't pay income taxes do indeed pay other taxes, such as payroll tax, sales tax, and a host of other "fees," "tolls" and "surcharges" which amount to a comparatively onerous taxation burden given their low incomes. Tell someone renting an apartment in New York State, for instance - where Gov. David Paterson just recently announced 88 new taxes and fees on everything from iTunes purchases to diet soda - that "they pay no taxes" just because they don't pay federal income tax, and that they thusly don't deserve stimulus payments, while claiming in the next breath that Bank of America, AIG, Citigroup and General Motors are deserving of large sums of federal money without oversight. The GOP simply fails to grasp the flaw underlying that logic, and it only adds to the perception that Republicans are the party of Big Business and Welfare for the Wealthy.
Was the stimulus perfect? No, it was not. It should have included more on infrastructure spending, to be sure. However, Republican objections to it were largely disingenuous, and they failed to offer a single credible alternative.
If the stimulus helps the economy recover, then voters should harshly judge the GOP for its logically inconsistent, obstructionist, pessimistic and hypocritical bet on economic failure.
Was the stimulus perfect? No, it was not. It should have included more on infrastructure spending, to be sure. However, Republican objections to it were largely disingenuous, and they failed to offer a single credible alternative.
If the stimulus helps the economy recover, then voters should harshly judge the GOP for its logically inconsistent, obstructionist, pessimistic and hypocritical bet on economic failure.
Viewing Comments 1 - 10 of 16
Mike Esteve
Mike Esteve
posted 2/18/09 @ 4:22 PM EST
Rich,
If you don't mind my asking, where did you arrive at the number "61%" for America's approval rating of the stimulus package? This percentage is far greater than any I have seen reported by major US polls. (Continued…)
Richard Fogal
posted 2/19/09 @ 12:09 AM EST
Mike,
Actually, that was a misprint. I had intended to cite a Gallup Poll taken February 11th which indicated that 59% of Americans supported the bill. (Continued…)
operation destroy idiocy
posted 2/23/09 @ 11:43 PM EST
Hey Rich, just a couple of informal questions.... how great is your knowledge of the dynamics of our economy and how it works?
Also, throughout the 20th century, Eastern European countries were burdened heavily with constant government intervention not just in the markets, but in every aspect of peoples lives. (Continued…)
Jack Mehoff
posted 2/24/09 @ 12:47 AM EST
Look here Dick Fagol, if you were any more wrong you'd make Baby Jesus cry.
Operation_Crap_On_U
Operation_Destroy_Idiocy
posted 2/24/09 @ 12:51 PM EST
OK, while Jack Mehoff and I may both disagree with RICH FOGAL, we're in an institute of higher learning for a reason... to avoid trivial and childish insults. (Continued…)
Richard Fogal
posted 2/25/09 @ 5:08 PM EST
Few things:
1. With an economic crisis of a magnitude this great, robust and honest intellectual debate should be how we approach the issue of how to fix our economic system. (Continued…)
Jack Mehoff
posted 2/25/09 @ 8:27 PM EST
I really hope you plagiarized that...if not, you're spending way too much time arguing on the internet
Mazen
posted 2/27/09 @ 9:44 PM EST
Thank you Rodrigo for posting that response.
You said it better than I could.
I also want to add when you create more money out of thin air you need more productivity. (Continued…)
mmshomali
Mazen
posted 2/27/09 @ 9:57 PM EST
I forgot to add gold hit $1000 an ounce last week. About a month- 2months ago it was around $800 an ounce.
That is fact and not mindless blabbering.
Here's some great investing advise. (Continued…)
Mazen
posted 2/27/09 @ 11:19 PM EST
Also, the better plan, which Rich is asking for, is for government to do nothing as in stopping wasteful spending, abolish the income tax, abolish the federal reserve, reduce government spending by A LOT, bring ALL of our troops home NOW, and shut down government bureaucracies, get gov out of the market, and return to the free market. (Continued…)
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