Wednesday, August 26, 2009

Thanks For The Allowance Papa Obama


Many are disappointed with the performance of the recent Stimulus package. Some of the reasons are:
  • It doesn't seem to be working. The economy has gotten worse.
  • Those shovel-ready jobs didn't really exist as quickly as promised
  • Many of the shovel-ready projects are road re-pavings or ridiculous projects that would never be funded in normal times with normal debate.
  • It is clear that much of the spending is in 2010 to help with mid-term elections for the Democrats. Give the peons that pork right before they vote. It fills their bellies.
One comment that is continually made by President Obama is that a large portion of the Stimulus package is for Tax Relief. He harps on that extra $10 per week everyone receives now. Wow. Didn't he say we could buy some unhealthy food, cupcakes, with that tremendous amount of money?

Here are the problems with his generosity:

  • It is our money. Taken away from us against our will via taxation.
  • He spent our taxes on wasteful government projects like $700 million for Mustang contraception.
  • Since the government is in deficit-spending mode, he borrowed money via the deficit to give us our money back at $10 per week.
The final analysis is that our $10 per week that President Obama gave us because he is so fair and concerned for the middle class actually cost us $20!

What if you were a parent that borrowed $10 from his child(taxpayers) and bought a six pack, then borrowed $10 from his neighbor(China) to to give back to his kid(taxpayers) as $10 in allowance, but then told the kid(taxpayers) he owed the neighbor(China) $10? I think your kid would see straight through that logic.

Now I agree that federal tax receipts grow when tax rates are cut. The problem is that government has never seen a dollar it didn't want to spend. However, giving us a one-time $10 allowance is cruel when it cost us $20.

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