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Here's your big 'stimulus,' America!
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While Americans of an earlier age would have already grabbed for their muskets, today's sheeple wait obediently for the impending doom as they watch criminal politicians stuff the biggest welfare bill in history down our throats while laughably claiming it will stimulate the economy.
If this bill passes, workers are expected to receive a whopping 13 bucks more per week in their paychecks. According to a recent report:
The $500-per-worker credit for lower- and middle-income taxpayers that Obama outlined during his presidential campaign was scaled back to $400 during bargaining by the Democratic-controlled Congress and White House. Couples would receive $800 instead of $1,000. Over two years, that move would pump about $25 billion less into the economy than had been previously planned.
Officials estimated it would mean about $13 a week more in people's paychecks when withholding tables are adjusted in late spring. Critics say that's unlikely to do much to boost consumption.
That's right, folks. Congress is getting ready to guarantee the bankruptcy of current and future generations so you and I can get a lousy check for 400 bucks.
Leave aside for a moment the fact that Americans would have no use for a "tax credit" if the government didn't steal from our paychecks, projected tips, and estimated earnings in the first place.
Tax credits are nothing but sops to gullible taxpayers, and apparently they work quite well. The state confiscates a third of our income off the top -- not counting additional taxes on property, consumer goods, dividends, inheritance, estates, etc. -- and we think we're getting some sort of deal because they return a miniscule percentage to us.
On their face, tax credits and tax cuts are a good thing. It is always proper to take your money back from the state. But just like tax cuts are worthless in the long run if they aren't accompanied by cuts in spending, the tax credits Obama is proposing will ultimately cause catastrophic harm to the economy because they're accompanied by hundreds of billions in additional spending. Not to mention the perversity of "paying" for these tax credits by absorbing them as debt -- the government will simply fire up the printing presses to cover the costs.
Any college student will tell you that it is impossible to get out of debt by swiping a credit card at every available opportunity. Eventually, in order to avoid falling deeper and deeper into the red, you've got to start saving money.
And we say college kids are irresponsible.
