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Politics : Right Wing Extremist Thread -- Ignore unavailable to you. Want to Upgrade?

To: RON BL who wrote (18713)	10/25/2001 12:28:06 AM
From: calgal	Read Replies (1) \| Respond to of 59480

Stimulating the Economy or Partisan Politics? (CNSNews.com) - House Republicans say their economic stimulus package will create jobs and strengthen American businesses. Democrats argued Wednesday that the package gives too much money to "big business" and not enough to individuals. House Speaker Dennis Hastert (R-Ill.) says the bill has two basic goals. "We must get our workers back to work and strengthen our businesses so that they can continue to be productive and hire more employees," Hastert said. "The economic security package that we will have on the House floor today, will do just that." But Rep. John Spratt (D-S.C.), the ranking Democrat on the House Budget Committee, says the bill benefits big corporations at the expense of Americans who have lost their jobs. "This bill bends over backwards to help corporate taxpayers but barely stoops to help the average American taxpayer," he said, "and far too little of the stimulus flows to middle-income Americans, who are most likely to spend the dollars they receive." Two of the bill's major provisions would benefit mostly corporate taxpayers. The proposal increases the tax deductions available to businesses for their expenses, and permanently repeals the corporate Alternative Minimum Tax. But the legislation also extends individual tax rebates to taxpayers who did not receive them prior to September 11, and speeds up the reduction of individual federal income tax rates. Reductions in capital gains taxes would provide some benefits to both businesses and individuals. The bill also provides additional money to states for unemployment insurance compensation, job training, and health care coverage for the unemployed. Rep. Dennis Kucinich (D-Ohio) says the House should instead pass a Democratic alternative bill that provides $30 billion in "guaranteed income" to unemployed workers for a full year. "We need to take care of unemployed workers. We recognize that," he said. "They say, 'Let's take care of the biggest corporation in America.' What hogwash!" The Democratic alternative also increases spending on a number of other government programs including payment of 75 percent of some health insurance premiums for some unemployed workers, extension of unemployment benefits to people not currently eligible for them, and $11 billion in interest-free financing for school construction and repair. Democrats propose to offset the costs of their spending by freezing the current federal income tax rate at 38.6 percent, effectively repealing the tax cuts passed by Congress earlier this year. House Republican Whip Tom Delay believes Democrats need a history lesson. "Clearly, spending isn't the answer," Delay said. "It didn't work for Japan. It didn't work even for the Soviet Union. And it won't work here. There's only one answer, and that's create economic growth." Rep. John Lewis (D-Ga.) still criticizes the Republican package because it does not focus on spending for cash payments to the unemployed and on creating government jobs. "This proposal is not fair. It is not right. It is not just. It fails to meet the basic human needs of our citizens who are hurting," he claimed on the House floor Wednesday. But House Ways and Means Committee Chairman, Rep. Bill Thomas (R-Calif.) says approximately 40 cents of every dollar in the Republican proposal does go to individuals, while about 60 cents of every dollar goes to businesses. "There tend to be negative reactions when you say you're gong to provide some money to corporations or businesses," Thomas said. "But if you say you're going to provide some money to the 'machines' that create jobs, then you understand what a stimulus package is all about." House Republican Leader Dick Armey (R-Texas) urges Democrats to put aside their "partisan efforts and parochial interests" to see the federal government grow, and "focus on the well-being of this nation." "The first, most immediate, and most compassionate response to any American citizen who is out of work and looking for a job is to do everything you can to engage this economy in the growth that will create those job opportunities. That's what this package does." Rep. J.C. Watts (R-Oklahoma) echoes that belief. "This legislation is about more than just having a check in the mail," he said. "It's about having a job." townhall.com