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Archive for January 23rd, 2008

Tax Breaks and Government BS

The economic stimulus package proposed by Bush and the rest of the federal government only compounds the economic problem and postpones paying for decades of out of control government spending.

In an important concession to Democrats, Treasury Secretary Henry M. Paulson Jr. signaled that he is open to including breaks even for those who pay little to no income taxes.

Typically, this package is being sold with disingenuous language.  You can not give a tax break to someone who pays no taxes.  It is a gift financed coercively by people who do pay taxes.

The net effect of this stimulus package will be increasing the National Debt and more borrowing from China.

It must be nice that the Federal Reserve can just crank up the printing presses and create more money, out of thin air, to create an illusion that everything will be OK.  I wish I could do that if I overspend!

Bush, Lawmakers Are Close to Deal on Stimulus Package - washingtonpost.com