Is $.24 per hour really stimulus
I find it interesting that anyone would call a $500.00 rebate a "tax cut". In fact, it is a one time rebate. Lets examine it.
A full time worker @ 40 hours per week, paid bi weekly at 26 pay periods per year - this "stimulus" equals a whopping $.24 per hour. WOW - that'll help pay for record Winter heating bills won't it?!
The real goal of the rebate is to provide a tax rebate check to those who don't pay taxes in the first place - it's redistribution of tax revenue, plain, simple and disgusting. And it can't be realized with a real tax cut (cutting rates).
Meanwhile, back on Capitol Hill - during "REIDOPELOSI 2009" - taxes remain opressive to both business, and individual workers. With consumer prices through the roof for essentials such as groceries, fuel, and insurance, without a real cut to free up OUR money, there simply isn't "extra" revenue to spend if you still find yourself employed.
The real "rush job" being put on this by liberals is simply to limit the amount of time taxpayers have to figure out just how pork laiden this turd really is - so it will already be done before we know how badly we were screwed.
I'm sick of hearing how any agency or government entity "supports small business". For sole proprietorships the "self employment" tax is 15.3% - and these sole P's comprise a large portion of "small business".
Here are some ideas:
1. No more money PERIOD - until and unless Congress passes law that forbids any funds from the 2nd half of TARP be released, pending (a) Full disclousre of the 1st half (b) LAWS are passed clearly, specifically defining the use of TARP funds - along with immediate recoupment provisions for those in violation.
2. Immediate income tax cuts - this is the MOST EFFECTIVE AND QUICKEST method of returning actual money to the taxpayers - WITHOUT ADMINISTRATIVE FEES, AND GOVERNMENT BS. If enacted and effective immediately, it would immediately hit paychecks for every employee. Cut all tax rates by at least 10%, all gates. This lowers taxes on everyone, and raises the tax threshold to a level which would stimulate growth immediately.
3. Immediate business tax cuts - like it or not, businesses employ people. The more capital a business has, the more funds are available for expansion and hiring. (a) completely suspend self employment tax for all sole P business entities under $20M in gross annual sales. (b) lower corporate tax rate from 35% to 15%.
4. Temporarily suspend capital gains tax, and lock in the permanent cap at 15%. This will immediately stimulate market growth on Wall Street.
Once this legislation is passed - which will require NO immediate financing on the part of the Government, we can TAKE OUR TIME, see what effect these inexpensive steps have, while we discuss a real stimulus package.
All stimulus spending bills should include stop or drop dead windows to insure no establishment of permanent increased spending and government controls over the people.
