[StBernard] MyHeritage.org: Tax Cuts Are the Real Stimulus

Westley Annis Westley at da-parish.com
Fri Feb 13 07:53:03 EST 2009


Tax cuts are the real stimulus


February 12, 2009 | By Nathaniel Ward

A new chart prepared by Heritage Foundation experts and distributed to the
news media demonstrates that government spending doesn't stimulate the
economy <http://members.myheritage.org/site/R?i=oQmbuPu0ZsCjiGjz-uNyKA..> .

Chart showing that spending doesn't stimulate
<http://members.myheritage.org/site/R?i=q3Wd6vzHU7XKJWnMGovt9A..>

Instead, it is by lowering income tax rates
<http://members.myheritage.org/site/R?i=xp49IFdpXJoBMfJi5oMH-A..> -- as the
2003 tax cuts did -- that lawmakers can spark a recovery by creating
incentives to work, innovate and invest. History and decades of research
bear this out.

Congressional leaders have nonetheless reached an agreement on a plan to
spend $790 billion of taxpayer money to "stimulate" the economy
<http://members.myheritage.org/site/R?i=tcR8VvbL-0stat8xJ-Koeg..> . Despite
opposition from conservatives in both the House and Senate, it is likely to
pass as soon as this week.


A generation's worth of liberal policy


Heritage Foundation vice president Mike Franc explains on National Review
Online that the "stimulus" bill isn't just wasteful. It also advances the
Left's agenda by enacting much of their policy wish-list
<http://members.myheritage.org/site/R?i=Sgbx2gxlaIc2iiut-XCFiw..> .

Over the last three weeks the policy experts at my institution, the
Heritage Foundation, have published dozens of biting critiques of literally
every aspect of the House and Senate versions of this legislative
monstrosity. They agree on one thing: Under the guise of stimulating the
economy, this one bill contains a generation's worth of liberal
policymaking, an entire Great Society-scale agenda, one that advances the
liberals' view of man and his relationship to government enough to cause LBJ
himself to turn red with envy.


How you can help


The Heritage Foundation is working hard to get the word out about this
"stimulus" proposal. But with the help of Heritage members and supporters
like you, we can make even more of a difference.

Heritage has created five useful one-page reports outlining the problems
with the legislation and alternatives for conservatives to embrace. Send
these to your friends or use them to write a letter to the editor
<http://members.myheritage.org/site/R?i=ycJV8U-uoJ9mh36vhOjazg..> .

* Compromise 101: Meet the New Stimulus
<http://members.myheritage.org/site/R?i=jHACSpElFfxfDzQCZ9SITA..> (PDF)
* What Is This Debt Plan Really About?
<http://members.myheritage.org/site/R?i=w5NGmbEX0vdKClLu-OpACA..> (PDF)
* Why a Trillion Dollars Only Buys Debt
<http://members.myheritage.org/site/R?i=csGmBnuTCkgmzH7R73B1rw..> (PDF)
* Smart Stimulus: Sen. Jim DeMint's American Option
<http://members.myheritage.org/site/R?i=UXwoZOavyoeuVNcBFEArqw..> (PDF)
* Why Spending Does Not Equal Stimulus
<http://members.myheritage.org/site/R?i=ItqohHDnOwkuaEPmHmEBhg..> (PDF)

You can also make a tax-deductible one-time or recurring contribution to
support our work.
<http://members.myheritage.org/site/R?i=wkaqAIWDjlY5VlRoaGHDOQ..>



> Other Heritage work of note



* While Israeli voters gave a narrow plurality to the leftist Kadima
Party, Heritage's James Phillips argues that the electorate moved towards
the more hawkish parties on the right
<http://members.myheritage.org/site/R?i=NNJZKf0KtLt7z3Tkef0dZA..> . "The
Israeli election results are a blinking yellow light that should warn the
Obama Administration against recklessly pushing forward peace negotiations
that have no chance of succeeding until Hamas has been defeated and
discredited," he writes.

* The Washington Post called on Heritage economist David John to
participate in an online discussion of the Treasury's newest proposal to
bail out the financial industry
<http://members.myheritage.org/site/R?i=rOIB-FxRprmgUJbkip6RaA..> .
Elsewhere, David John explains that "because the plan is mostly composed of
bad policy and talking points
<http://members.myheritage.org/site/R?i=wEQMW3X3oC9EbI-fWNoIYA..> , it has
had little or no effect on financial markets."

* The "stimulus" bill currently before the Congress is just the latest
in a long line of abusive spending
<http://members.myheritage.org/site/R?i=ebl8YAMSE5gQRdHtmXvEuw..> bills,
Heritage Foundation President Ed Feulner writes in the Washington Times. The
legislation is weighed down with pork-barrel spending, like $650 million for
digital TV coupons, $140 million to study the atmosphere and $50 million for
the National Endowment for the Arts. "None of these proposals would create
jobs or boost our economy," Feulner explains. "They're just old-fashioned
waste."

* Today is the 200th anniversary of Abraham Lincoln's birth. To
celebrate, The Heritage Foundation is hosting conservative scholar Shelby
Steele <http://members.myheritage.org/site/R?i=Qk-gnsQfq98RuHqt6NmFug..>
for a discussion of Lincoln's would-be modern imitators. And in a post on
Heritage's blog, the Foundry, Heritage scholar Joe Postell explains how
Lincoln's dedication to the Constitution and the principles of the Founding
<http://members.myheritage.org/site/R?i=PTHKkX-xY6_215GG9uvHBg..> make him
a model for today's conservatives.



> In other news



* The AP reports that "Wall Street bank executives squirmed under a
public scolding
<http://members.myheritage.org/site/R?i=WZ-MOOW1IbvvR8n2uKyJpg..> in the
U.S. Congress on Wednesday over how they used $176 billion in bailout money
without noticeably improving the battered economy." Funny that Congressmen
are raising these questions, seeing as they approved the easily-abused
bailout package
<http://members.myheritage.org/site/R?i=J-npjg1Twy4eu9FFrQBlwQ..> in the
first place.

* Gay supporters of same-sex "marriage" descended on New York City's
marriage bureau today demanding licenses to wed. The city does not recognize
such unions and turned the couples away
<http://members.myheritage.org/site/R?i=5aaap3x4yIb533xq7gUjlA..> .

* Taxpayers may foot the bill for the birth and care of Nadya
Suleman's octuplets. The AP reports she will receive increased government
aid for her children
<http://members.myheritage.org/site/R?i=VeE2lScmO4eXCitVv8HDNg..> , while
the hospital where she gave birth is requesting reimbursement from the state
Medicaid program, Medi-Cal.

* Retail sales inched upwards in January
<http://members.myheritage.org/site/R?i=zAWFefyayLqfJDR8fEQOVQ..> , the
first such increase in seven months.

* "Lithuania is to hold talks with the United States on taking in some
of the inmates from the contentious U.S. military prison at Guantanamo,"
according to news reports
<http://members.myheritage.org/site/R?i=-H9swbQcQS3zAu_FnhzGEQ..> .

* A Senate committee yesterday approved legislation granting the
District of Columbia a vote
<http://members.myheritage.org/site/R?i=Rl8eScA3zHK6qTUHZyI-Bw..> in the
House of Representatives. Problem is, this legislation isn't constitutional
<http://members.myheritage.org/site/R?i=zhyEvf4MY8GI0MnnuX8U_w..> .



> Coming up at Heritage



To attend these or any other events at Heritage please RSVP at Heritage's
website <http://members.myheritage.org/site/R?i=XQWx9m0JryUHw_4aZYPMSw..> .
Or you can view these events live online. All times are Eastern.

* On Wednesday, February 18 at noon, a panel of experts explains why
young people in particular should embrace entitlement reforms
<http://members.myheritage.org/site/R?i=7BkRREzv0UcBO8dEz3dmdA..> .

* On Friday, February 13 at noon, a panel of experts will discuss the
Mexican drug cartel and U.S. drug control policy.
<http://members.myheritage.org/site/R?i=Vv4jSYGnRxuHjPprh7qnTw..>

Nathaniel Ward
<http://members.myheritage.org/site/R?i=DYvGGl7b6e_gwbLXixNIjg..> is the
Editor of MyHeritage.org-a website for members and supporters of The
Heritage Foundation.





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