The Economic Stimulus Plan proposed by the Administration is a pork-laden bill and will not stimulate the economy. You can’t stimulate the economy by increasing our national debt or by printing more money.
In addition to the hyper-inflation that this bill will cause, and in addition to the pet projects of various Democrats that would never pass if it weren’t included in a so-called emergency funding program, there are other reasons to oppose the bill:
1. Tax Relief. Tax relief is predominately for people who do not pay taxes. “For individuals, the plan would cut taxes for most workers this year through a $500 tax credit that would be delivered by reducing paycheck withholding, a key proposal from Mr. Obama’s team. But to reduce the cost of the proposal, House lawmakers pared down that benefit so that higher-income workers are excluded. The credit would begin to phase out at $75,000 for individual taxpayers and at $150,000 for couples.” WSJ, 1/16/08
2. Illegal aliens will be qualify for cash payouts. “The legislation, which would send tax credits of $500 per worker and $1,000 per couple, expressly disqualifies nonresident aliens, but it would allow people who don’t have Social Security numbers to be eligible for the checks.Undocumented immigrants who are not eligible for a Social Security number can file tax returns with an alternative number. A House-passed version of the economic recovery bill and one making its way through the Senate would allow anyone with such a number, called an individual taxpayer identification number, to qualify for the tax credits.” AP 1/29/09
3. Expanding health care and Medicade coverage. “The new Medicaid Coverage for the Unemployed program is supposedly a temporary program to cover laid-off individuals via Medicaid. And the $30 billion COBRA coverage provision, provides assistance in paying for COBRA for individuals making up to $1 million a year. All of these short-term benefits, once granted, will be hard for any Congress, of any party, to take away.” The Weekly Standard 1/29/09
If you would like to be involved in action to stop the passage of this bill that would not do anything to help the economy, go to TCOT ACTION PROJECTS and register. Then go to the action group: Operation “MOVE OVER MoveON.” You will find a plan of action as to how you can help.