Thursday, February 12, 2009

The truth about the stimulus

For all the bluster and muster made over the stimulus, the longer this takes, the more the American people lose out financially.

As I mention yesterday, the reason the cost of the stimulus dropped is because some of the tax cuts were eliminated.

This is not a good thing. The man on the street struggling to make his mortgage payment, instead of giving him a tax cut that can affect his paycheck immediately we give his money away to our state government who is using that money to fill the gaps in their own budget. Of course, as we already know, the man on the street just had his state taxes increased to fill that same budget gap.

Journal Sentinel

Changes to tax laws that would result in more online retailers charging sales taxes - for both tangible products and Internet downloads of songs, video games and e-books.

A tax on hospital revenues, expected to bring an additional $900 million in federal funds over three years.

$125 million in cuts to state spending.

$3.6 million for worker training programs.

Increased oversight of child care programs, the administration of which was called into question in the recent Journal Sentinel investigation "Cashing in on Kids."

Increased regulations to protect homeowners and tenants during foreclosure

So we increase the man on the streets taxes and then we eliminate billions in tax cuts on the federal level. I understand the Democrats hate tax cuts, but for heaven's sake, Americans need a break here!

Michelle Malkin observes:

· Tax relief to help middle class families and small businesses was sharply pared back in order to increase government spending. Public opinion over the last 4 weeks has shown that Americans overwhelming believe tax cuts, and not government spending, are a better way to stimulate the economy.
Approximately $75 billion in true tax relief was CUT from the Nelson-Collins package. So, while the overall size of the package may have gotten slightly smaller, the spending actually increased.

The end result, tax cuts are eliminated and spending goes up.

Who voted for these Democrats running our state and our country?
$75 billion of tax cuts were eliminated. $1 billion was eliminated from building highways and roads which may have actually helped create jobs.

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