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There are times when I see what is happening around me and I am just amazed. That is happening to me right now, as I watch our leaders lead us the wrong direction. The decisions they are making regarding this “Economic Stimulus” stuff are just wrong.
When you try to take in the full program it becomes overwhelming. Numbers in the billions and trillions will cause your head to spin. However, the numbers simply confuse, and the size of the problem does the same thing. So let’s reduce it and take a look.
Let’s reduce the problem down to one family. Let’s assume the family is heavily in debt and their income has been greatly reduced or eliminated. Perhaps they have lost their job. This family knows that they must take some action or they will end up bankrupt. What are the options?
Option 1 - They can spend more money and maybe the people they spend it with will feel so enriched that they will hire them. People, you cannot spend you way out of this kind of problem.
Option 2 – They can borrow more money to live on and wait out the problem. People you cannot borrow your way out of this kind of problem.
OK… Let’s go back to the government. The government gets all of its money from us. That is worth repeating: The government gets all of its money from us. They seem to think if they spend more money, our economic problems will go away. Let’s assume I am a contractor and the government grants me a contract to upgrade government buildings. Where do they get the money to pay me? From you, that’s where! So, they are simply redistributing the money. They are NOT adding anything. They have nothing to add. All they have comes from us. It comes from you, and it come from me.
Now, we the people, via the federal government, own the largest insurance company, many banks and automobile manufacturers. Who knows how many other business we will end up with as we try to stimulate the economy. Can you say SOCIALISM?
Webster: Socialism - Any of various theories or systems of social organization in which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls the economy.
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A Page From History
Norman Mattoon Thomas (November 20, 1884 to December 19, 1968) was a leading American socialist, pacifist, and six-time presidential candidate for the Socialist Party of America.
The Socialist Party candidate for President of the U.S., Norman Thomas, said this in a 1944 speech:
"The American people will never knowingly adopt socialism. But, under the name of "liberalism," they will adopt every fragment of the
socialist program, until one day America will be a socialist nation,
without knowing how it happened."
He went on to say: "I no longer need to run as a Presidential Candidate for the Socialist Party. The Democratic Party has adopted our platform."
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So What is the Answer?
The fix for our economic mess is so simple I cannot believe I have not heard anyone mention it.
Temporally suspend corporate income tax for a period of say three years. It is private enterprise, not the government, who create our economy. Currently, the average combined federal and state corporate tax rate in the U.S. is 39.3 percent, second only to Japan's combined rate of 39.5 percent.
This action would create a temporary windfall for corporations. What would they do with this windfall? They would expand, they would increase production, they would build new plants, they would hire more workers. In short, they would do all of the things necessary to really correct our economic woes.
And guess what? The loss of tax revenue would be less than $500 billion per year. Way less than what will be spent trying to fix the problem. And it would not be socialism.
There is you answer Mr. Obama. Wake up and do what will work.
Be blessed,
Wayne
Love all – Trust some – Harm none
Capstone Christian Ministries
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