To date, 21% of the $787 Billion so-called stimulus bill has been spent. In other words, 79% of it has not been spent. I disagreed with the stimulus when it was put forth, because there is nothing stimulative about it. It is just spending money and adding to both our deficit and national debt, with no job creating abilities other than the public dole.
But I do favor a second stimulus bill. That's right, I am in favor of a new stimulus bill.
Here it is:
1. Cut the corporate income tax rate 50% for two years so companies can afford to hire.
2. Cut the payroll tax 75% for two years so workers can afford to live.
3. Cut the capital gains tax 100% for two years so people can afford to invest.
It is that simple.
Imagine if Congress would have done that instead of the first stimulus bill? What would our economy being doing right now? Do you think unemployment would be hovering at 10%? I don't. What do you think Americans would say if you put this bill on the floor of the Congress? I think they would love it. Why wouldn't they? It actually is a stimulus bill, as it would stimulate growth and free up access to capital.
Just my two cents.
