Fifty-three percent of American voters voted for Barack Obama; 46% voted for John McCain, and 1% voted for wackos. Give that 1% to President Obama. Let’s say the vote was 54% to 46%. As a way to bring the country together and at the same time determine the most effective way to deal with recessions, under the Obama-Limbaugh Stimulus Plan of 2009: 54% of the $900 billion — $486 billion — will be spent on infrastructure and pork as defined by Mr. Obama and the Democrats; 46% — $414 billion — will be directed toward tax cuts, as determined by me.
Then we compare. We see which stimulus actually works. This is bipartisanship! It would satisfy the American people’s wishes, as polls currently note; and it would also serve as a measurable test as to which approach best stimulates job growth.
I say, cut the U.S. corporate tax rate — at 35%, among the highest of all industrialized nations — in half. Suspend the capital gains tax for a year to incentivize new investment, after which it would be reimposed at 10%. Then get out of the way! Once Wall Street starts ticking up 500 points a day, the rest of the private sector will follow. There’s no reason to tell the American people their future is bleak. There’s no reason, as the administration is doing, to depress their hopes. There’s no reason to insist that recovery can’t happen quickly, because it can.
In this new era of responsibility, let’s use both Keynesians and supply-siders to responsibly determine which theory best stimulates our economy — and if elements of both work, so much the better.
That’s Rush Limbaugh, in the Wall Street Journal [1].
This is the best idea I’ve heard so far, frankly.
Let’s find out, once and for all, which of these two pet theories work. I mean, leave aside the idea that government spending in the Keynesian mode has NEVER worked. Not once. They’re still arguing as if it has worked and can again. And we’re wasting trillions of dollars trying to make it work. So, let’s for once and all identify what works and what doesn’t and stick to that. I’m convinced lowering taxes and promoting financial freedom is the answer.
The reason Obama wants to muzzle Limbaugh and his like? They’re convnced on that point as well… but Obama himself would rather YOU weren’t…. it lowers the level of government power. Remember kids, when government grows, you lose, and America loses.