Yes, but it will only work for companies already planning to spend the money and who have it to spend. And then it will only serve to accelerate the spending for 2012 and 2013 to 2011. In essence, it is another cash for clunkers deal for people who are already in the market and planned on spending the money anyway.
Medium and large corporations are piling up record amounts of cash. There is no lack of money to spend.
And then it will only serve to accelerate the spending for 2012 and 2013 to 2011.
True, but it will still help. If you increase demand for capital goods today, you put to use unemployed resources today, which in turn raises national income, which leads to more demand for capital projects, which puts more unemployed resources to work, etc. That is how stimulus is supposed to work.