Pork Bill

The news media keeps refering to the $800 billion stimulus bill, but they are repeating a lie. This bill is all pork, all big government spending, with no economic stimulus features. The $800 billion is primarily a payoff to the most loyal Democrat voters: labor unions, welfare-recipients, ACORN, teachers, universities, etc. For example, the current House version doubles the annual budget for the National Park Service ($2 billion is raised to $4 billion)! The tax cuts in this bill are not reductions in tax rates, but one-time payments to low-income families (another loyal Democrat consituency). The bill will cause the Treasury to write checks this fall (or increase the tax refund check) in the amount of 6.2% of their family income, making it a refund of their FICA payment for 2009.

To stimulate the economy, a stimulus bill should include capital gains tax cuts, immediate business tax deductions for capital investments made in 2009, reduced tax rates for all tax brackets, reductions in the minimum wage, and other incentives for small businesses to hire new employees. After all, small businesses typically account for well over half of new hires during economic recoveries.