Posted on 05/28/2020 3:07:34 PM PDT by Jim Robinson
Pelosi wants to spend $3 trillion. McConnell says no more than $1 trillion. But, of course, both want to expand federal power and bureaucracy to pick the winners and losers while they dole it out. And there's no way they can keep it under $3 trillion, much less $1 trillion.
Ok, if it's worth doing it should be big, bold, immediate and without growing the bureaucracy and without allowing government to pick the winners and losers.
I've seen suggestions that we should have a payroll tax holiday until the end of the year. That would be a good start and it would give all employees and employers an immediate raise without adding to the bureaucracy.
But to make it really big and really bold and more likely to boost investments and create millions of jobs for the long-term, make the tax holiday through the end of 2021. AND include a 100% across the board federal income tax holiday as well.
This would allow people and businesses to keep all of their earnings (other than state and local taxes) and decide for themselves how and where to spend or invest the savings. Talk about jumpstarting a long-term boost in investments, growth and jobs? Here it is.
And it's right up Trump's alley. BIGLY and BOLDLY! *
Make this a high priority signature action item and you win the election and take back the congress!
But, but the debt. Yup. And our government just tacked on another $6-$8 trillion and they're getting ready to do it again. At least this way, we the people will decide how to make the investments, not the government. Thankfully, the interest rate is near zero, so if we have to borrow, now is the time.
By the way, putting millions of people to work will start the revenues flowing into the state and local treasuries as well, so we won't have to bail them out. And all these working people will keep the insurance industry afloat and make our hospitals and healthcare providers healthier too.
Plus we'll gain a leg up on China which may be headed for dire times due to the Wuhan flu.
* Lots of people have been talking about the possibility of a payroll tax holiday. First heard the idea of an income tax holiday recently on a video of Steve Bannon interviewing Steve Cortes.
Good luck with that. The pigs are lining up at the trough.
Makes sense to me.
Awesome idea. Sign me up!
Cutting taxes and forcing the government to make do with less is always a good plan.
However this Congress is lame.
Well, by golly, maybe we should take the congress back.
That’s the only thing government can do to bring freedom back to America. Any other plan is just more debt slavery and favoritism.
Just send me the money and I will dole it out.
Sounds good. Uncle Sam is stilling collecting tarrifs and hoards of other taxes so it’s not as if nothing is coming in. I suggest laying off millions of Government workers so that they get a taste of what we folks in fly over country are feeling.
Well I’m planning to do my part. Going to spend money with local business, going to try to buy American (just bought a Made in USA mower), going to buy a round at the local bar, and look at getting a new ford. Maybe buy a 2nd hand boat.
The pigs are lining up at the trough.
.
Slaughter the pigs
...as much as I’d like to...
Too bad they can’t push thru a flat tax on all taxable entities at a low rate. Make the IRS much smaller.
The intial $1200 got a lot of guff from many. However, what Trump was trying to do was to ‘prime the pump’. It may need more priming due to the rapid losses of so many millions of jobs.
I remember The Kingston Trio’s Desert Pete. It fits: https://youtu.be/08kEFELCb3I
I have noticed recently that it is almost impossible to find a 43” smart TV. Amazon and Walmart and Best Buy are sold out of most of them. Yes, buying a 43” TV does prime the pump.
I suspect that the economy could probably stage a pretty good comeback without any phony money infusion at all.
I've seen suggestions that we should have a payroll tax holiday until the end of the year. That would be a good start and it would give all employees and employers an immediate raise without adding to the bureaucracy. But to make it really big and really bold and more likely to boost investments and create millions of jobs for the long-term, make the tax holiday through the end of 2021. AND include a 100% across the board federal income tax holiday as well.
Thanks JimRob.
Anything that will keep these gift $$$$$s out of Pelosi’s sticky hands.... good thinking Jim!
What the country needs is certainty. The people need to know the government can't shut down this economy ever again for any reason. We cannot return to where we were with the threat of lock downs, and essential or non essential classifications. Without this certainty, tax relief and other economic incentives will only be stuffed under the mattress under fear of yet another lock down.
Without certainty, the new business model for those that have the capital is going to be "don't go into business" put the money elsewhere.
We need a guarantee. We need it to be set in stone that the government does not have the power to shut down our lives under any circumstance otherwise we will permanently handicap our economy from this day forward.
Complete federal tax elimination through 2021. After that, a consumption or flat tax. No more choosing winners or losers!
The rats getting the House in 18 has turned out to be an absolute catastrophe for the country that coupled with the Governor pickups has allowed this virus to do more damage than anything since the civil war. It’s arguably even worse.
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