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Politics : View from the Center and Left

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To: Dale Baker who wrote (114468)	7/3/2009 10:36:58 AM
From: Bearcatbob	Read Replies (1) of 543061

"Because no private company or bureaucracy can spend that much money that fast unless they hand the money out on street corners or just give every company in the Fortune 500 a $1 billion grant tomorrow. Can't be done. So if we pass a second stimulus, what happens? More appropriated funds sit in the pipeline waiting for the system to get them spent." Your question restores the argument of giving the stimulus to the people. For instance - subsidize mortgages to 4.5% - the recent rate rise slowed refi. Also - suspend the wage tax for say 3 months - with a phased return. The needs to go to the people - not agencies and certainly not the establishment of new agencies. The Obama stimulus contained cushion and stimulus. I assume the cushion - unemployment and state subsidies - is being spent - but the job creation stuff is the slow part. A major growth issue is also to resolve tax uncertainties in the cap and trade and medical plans. The huge unknown tax implications of these monsters is a huge disincentive. The plan is failing in execution and failing due to counter stimulus actions by the administration. Bob

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