Obama’s Stimulus Plan – By Idiots, For Idiots

I’d assume that this was satire if it weren’t in the LA Times: Stimulus package tax credit should mean $8 to $10 a week:

What benefits will I see if I am working?

You’ll receive a $400 tax credit if you make less than $75,000, or an $800 credit for couples making less than $150,000 a year; it is slowly phased out if you make more than that. You should soon notice a change in your paycheck withholding, giving you an additional $8 to $10 a week.

Eight to 10 dollars a week? How is that supposed to stimulate the economy?

Experts say a little goes a long way. Maybe you help keep a restaurant open by eating out when you otherwise wouldn’t. Or perhaps you buy a pair of shoes you otherwise wouldn’t (albeit not Manolo Blahniks).

The bottom line, proponents say, is that money will flow into the economy that wouldn’t have before. Critics say the tax credit frees up too little cash for individual taxpayers. [Emphasis added.]

Consider the contradictions, evasions, and obfuscations evident in just this little bit. We are to be “given” an “extra” $8 to $10 a week, by which we might, for example, “help keep a restaurant open” by spending this paltry sum, or maybe buy a pair of shoes. Even though government is “spending” over a trillion dollars, all told, in this “stimulus” plan, when we spend this money it will be money that “will flow into the economy that wouldn’t have before.” In other words, this money, if taken by the government, wouldn’t have made it into the economy, while these trillions of other dollars, magically, will.

And then, there’s this:

Why am I not getting a check directly from the IRS, like last year?

Because most people didn’t spend that money. They saved it — which did little to boost the economy. The White House and congressional Democrats said they did not want to repeat Bush administration economic policies.

First, consider the notion that saving does “little to boost the economy.” That’s nice to know. Second, apparently, the White House and congressional Democrats think it’s more important to avoid “repeat[ing] Bush administration economic policies” than doing what’s right (which, of course, would be doing nothing, but that’s another discussion entirely). But finally, think about it: somehow, if we receive the money in our paychecks, we’ll spend it, but if we receive it in a separate check, we’ll save it.

If you wondered at the intelligence, or lack thereof, in government’s intervention into the economy, look no further than this obvious bit of cheerleading. It was either written by idiots, for idiots, or both–and the same can be said for the “stimulus” plan itself.

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