Spreading the wealth?

Our government seems determined to subsidize large corporations and government offices. The price tag is enormous, but how will this bailout benefit the taxpayers who are ultimately footing the bill? It won’t. I have a solution that will make taxpayers happy and bounce the economy back in a matter of days.

Instead of spending billions on projects that may or may not produce jobs, send the money to the taxpayer. If the bailout money was divided up and paid out to each and every legal, taxpaying citizen of the U.S., we would all get a sizable chunk of cash to spend any way we want to spend it. Think of the possibilities! Automobiles would be purchased, vacations planned, school loans paid back, nonprofits would flourish when tithing citizens donated 10 percent, the homeless could afford to pay rent or even buy a place, jobless individuals could go back to school for training—the list is endless. The economy would boom! Every business of every kind would prosper and consumer confidence would reach an all-time high. Any president, senator or representative who [supported] this bill would never have to worry about being reelected.

I have no idea how much money each citizen would receive, but I know it is more than the $13 we have been told to expect in our paychecks once we get the “huge” tax break. No doubt some citizens would not spend their stimulus money wisely, but who cares! It’s their money. Every single taxpayer would receive the same amount to do with as they wish. No special treatment for rich or poor.

It would work! President Obama, please consider a package that will benefit the taxpaying, voting citizens of the United States.

— Jamie Sharp
Black Mountain

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36 thoughts on “Spreading the wealth?

  1. “send the money to the taxpayer.”

    What money?

    Where will this money come from?

    How does the government come into possession of money?

  2. Economic Recovery Requires Capital Accumulation, Not Stimulus
    George Reisman | 2/25/2009

    The blind rush into massive “stimulus packages” is the culmination of generations of economic ignorance transmitted from professor to student in the guise of advanced, revolutionary thinking — the “Keynesian revolution.” The accelerating destruction of our economic system that we are now experiencing is the product of a prior destruction of economic thought. Our entire intellectual establishment has been the victim — the willing victim — of a massive intellectual con job that goes under the name “Keynesianism.” And we are now paying the price.

  3. Dionysis

    “The accelerating destruction of our economic system that we are now experiencing is the product of a prior destruction of economic thought.”

    Right. If only all of those pointy-headed intellectuals had embraced ‘Objectivism’, everything would be hunky-dory.

    When are you scheduled to depart for Singapore?

  4. I recall getting several checks during the Bush administration, the most recent last fall and that line of thinking didn’t seem to do much to pull the US economy out of the big giant hole it has entered due to the laissez faire, unregulated greed fest that posed as an economy for the last decade or more.

    It is better to spend this borrowed imaginary money in ways that will create actual tangible and useful things like infrastructure, scientific research on energy, electric and internet grids and things like that. Real people will have real jobs doing these types of things and the money will flow out from there. We will have something to show for this instead of more cheap plastic crap from Walmart that ends up in landfills and makes China richer.

  5. Piffy!

    “What money?

    Where will this money come from?

    How does the government come into possession of money? ”

    I, too, have these questions.

  6. This country has never had laissez-faire (or “hands-off” unregulated free market capitalism).

    The country is entering a big giant hole due to unbridled government interference in the economy based on Marxist political philosophy and Keynesian economic theory.

    The article I pointed to shows this quite clearly.

    This article shows the fallacy of Keynesianism:

  7. “However, while this crisis does not imply the end of market-economy capitalism, it has shown the failure of a particular model of capitalism. Namely, the laissez-faire, unregulated (or aggressively deregulated), Wild West model of free market capitalism with lack of prudential regulation, supervision of financial markets and proper provision of public goods by governments.”

    And then there are actual economists who were right all along about the upcoming disaster who have a different view than Tim Peck.

    Laissez-Faire Capitalism Has Failed

  8. Tiderguy

    UNREGULATED?? Have you ever seen the inside of a law book or our tax code? Sarbanes-Oxley is HUGE REGULATION enacted during the (gasp) Bush Administration. The CRA and the resulting laws passed to give 5 million illegal aliens, ahem, immigrants homes speaks to the pressure placed on banks to give loans with almost ZERO income verification. Meanwhile, Barney “no business experience” Frank and Chris “Friends of Angelo” Dodd get special teatment to divert these REGULATORS who uestioned the about Fannie and Freddie FOR SIX YEARS!! Of course, if you don’t believe me, check YouTube for ACTUAL VIDEO OF BARNEY FRANK telling REGULATORS THAT THERE “IS NO PROBLEM!” you gotta love video! The class warfare at work here is mind-boggling. Apparently ANYONE that isn’t on welfare or working at a local coffee shop is just a corporate slug making millions. Just don’t come crying to the small business owners of the world when your job goes bye-bye due to a rise in payroll taxes and health benefits. Of course, evil business owners don’t create jobs, right? Only Obama’s gov’t can do that. To steal a line, “Give me a break.”

  9. You mean the Sarbanes-Oxley that is a United States federal law enacted on July 30, 2002 in response to a number of major corporate and accounting scandals including those affecting Enron, Tyco International, Adelphia, Peregrine Systems and WorldCom. Are you against truthful accurate accounting that protects investors?

    “The class warfare at work here is mind-boggling.”

    So very true. Just imagine, the illegal immigrants, the poorest Americans, the low income and lower middle class who have no high paid lobbyists in Washington, no real power to speak of, no influence what so ever on the laws that Congress passes and Presidents sign brought the over paid geniuses of Wall Street, high finance and the banking industries to their knees by their poor lower class cunning. Brilliant. It all makes sense now.

    If you’re not for corporate greed and excess you must hate all business and the capitalist system. Brilliant.

  10. Tiderguy

    Yeah, I’m against regulations, right. I clearly said so, didn’t I! Nope. What I SAID was that the whole “Bush-deregulated-banks-so-they-got-greedy” BS is WAAAYY overdone by the Obama-inheirited-this-mess crowd (not to use too many hyphens). So, Christopher, there are no lobbyists for the poor??apparently you haven’t been in DC much either. NEA, ACLU, NAACP, Rainbow Coalition, etc., etc. ring a bell? And try quoting something other than Wiki-crap and a Guiness commercial, k? Riddle me this, Brainiac, what do higher “taxes on the wealthy” in a recession do for the U.S. Economy throughout history? Wiki that one alright?

  11. “Sarbanes-Oxley was passed in the anti-business frenzy following the Enron and WorldCom accounting frauds–crimes that were characterized not as the work of a handful of cheats, but as a black mark on all businessmen. Instead of simply gathering evidence and prosecuting individual perpetrators accordingly, our leaders passed a law that forces all businessmen to prove to the government that they are not cooking their books….Sarbanes-Oxley is a moral and economic atrocity. It is past time to repeal this monstrous law.”


    “Genuine capitalism—which is not what we have in America today—is the social system of individual rights, in which the government does one thing: protects everyone’s right to act on his own judgment, so long as he doesn’t violate the same right of others. Under capitalism, everyone is free to keep, use, and dispose of the product of his efforts—free to achieve whatever kind and degree of prosperity he is willing and able to achieve—free to live his life as he sees fit. Under capitalism, there is no forced altruism—no stealing from Peter to pay Paul, no tying Peter’s hands so he won’t outperform Paul, no forbidding Peter and Paul to engage in consensual adult sex, no forbidding Mary to have an abortion, and no sacrificing soldiers to spread democracy to savages who want theocracy.”


  12. poofy

    ““The class warfare at work here is mind-boggling.”

    No Kidding. Seeing relatively middle-class/working class people kowtow to the ultra-elite as if they are on the same side is indeed “mind bobbling”

  13. Tiderguy writes: “what do higher ‘taxes on the wealthy’ in a recession do for the U.S. Economy throughout history?”

    They cause unemployment and stagflation?

    “Combine high inflation and high unemployment and you have stagflation. Hindsight shows how the pain of the late 1970s and early 1980s could have been avoided, yet we’re now again planning to borrow and spend — and raise taxes — as President Jimmy Carter did. Soon we may again find ourselves watching a rising ‘misery index’ of inflation and unemployment together. If that happens, individual earning power will evaporate, and our standard of living will decline.”

    http://snipr.com/ctla6 [www_nytimes_com]

  14. tiderguy

    Tim, so Capitalism is bad? I guess those thugs in Iraq shouldve been gassed instead? Which group in Iraq wants a theocracy? The ones that voted in huge numbers or the ones that turned on AQ? The ones that pulled down Saddam’s statues? Ask the soldiers that are there if they think they should be helping these people. Isn’t it “racism” to suggest that just because they live like it’s 1799 that they don’t “want” democracy? By the way, my Sarbanes-Oxley line was to those dolts that keep using bumper sticker slogans to state a position, like “Bush’s tax-cuts for the wealthy”, “Bush’s deregulation policy”, “Bush’s torture”, etc. etc. NOW the left in Hollywood and elsewhere think they should “become better parents, flush more, get to know their neighbors”, BLAH, BLAH. Temporary Americans is what they are. Why don’t they use their “influence” to actually help Darfur as they implored our gov’t to do? Well, because they would have to call out the Islamists in control there and that means being non-PC or having a fatwa or something declared on them which requires ACTUAL guts.

  15. “But marginal cuts in tax rates do. We also must lower our job-killing corporate income tax rate….” from Paul D. Ryan, a Republican representative from Wisconsin.

    Thanks Tim for that link, the Republican answer to every problem under the sun, cut taxes and spend like were all gonna die in the apocalypse. That strategy has worked so well for the last eight years at getting the government’s fiscal house in order.

    Tiderguy, I went and reread your first comment and if this is what you said, “What I SAID was that the whole “Bush-deregulated-banks-so-they-got-greedy” BS is WAAAYY overdone by the Obama-inheirited-this-mess crowd (not to use too many hyphens).”, you used a completely different set of words to say it and that meaning did not come through.

  16. Tiderguy

    Christopher, the reason Republicans are all for tax-cuts is because THEY WORK! Bush went out of control with the spending, but look at the economy for the past eight years (and even further) to see that TAX-CUTS COMBINED WITH CONTROLLED SPENDING EQUALS A GOOD ECONOMY. The “Clinton” years were decent because of the Contract with America written by a Republican Congress. Read up on economy’s that falter and you’ll find a majority are those with high tax rates, big gov’t, and big spending. Our country should remember what made us great, which is LIMITED GOV’T and lower taxes.

  17. travelah

    Reducing the tax burden on a citizenry is usually a good idea that produces far more net benefits to society than costs. Somehow, a bankrupt notion is being peddled to the public that people who earn their wealth should be penalized as if they stole it from those who have squandered every opportunity given them. The better solution, Jamie, is to stop cutting checks to every group under the sun and avoid the notion that there is anything remotely reasonable about free money. The economic rape committed by the Democrats in power recently and continuing now with the Obama budget should be rescinded and fought tooth and nail in hope of salvaging this great country.

  18. John

    |”avoid the notion that there is anything remotely reasonable about free money.”

    This is a very valid point, and yet I feel this vague sense that you may not have protested in the same way, merely a few months ago, when the Republican controlled White House and Congress were passing “Bailouts” for all kinds of banks and companies.


    There is a current wave of amnesia that seems to be afflicting those who hold tight to the Republican party line, who seem to only notice when Democrats are guilty, and never when their Team is caught pillaging the coffers. How convenient this selective memory is for the constant swing of the pendulum between two Parties that with more similarities than differences.

  19. travelah

    John, when the extent of this debacle became known, I opposed it. I supported some form of bailout for credit purposes for roughly a week. There is no amnesia. There is a recognition that we are being economically raped and our children’s futures are being destroyed by the day.

  20. rationalinfidel

    “There is a current wave of amnesia that seems to be afflicting those who hold tight to the Republican party line, who seem to only notice when Democrats are guilty, and never when their Team is caught pillaging the coffers.”

    I couldn’t agree more, John. It should be obvious to all that the Republicans aren’t a true alternative to the looting, statist Democrats.

    “I supported some form of bailout for credit purposes for roughly a week.”

    No disrespect, travelah, but you really show your stripes here.

    “I supported some form of [enter method of government theft here] for [enter justification here] for roughly [enter arbitrary time period here]” is hardly a principled response to the weapons-grade immorality currently on display in Washington.

  21. Tiderguy

    Unfortunately, we have a guy (Geithner) that was the head of the Fed when all of these companies shouldve been investigated (I.e. Madoff) while making off with $16 BILLION (Madoff and Stanford, both big Dems) of investors money and PLENTY of finger pointing that they were doing so. Now this tax cheat (Geithner again) is RUNNING the IRS when he couldn’t run TurboTax! We get Charles Rangel, yet ANOTHER TAX CHEAT, writing tax laws, Dascle cheating, Richardson investigated, Biden’s family being investigated, Obama’s new “urban” czar (WTF?) getting quid pro quo a la Blago and His replacement, Barney Frank sleeping with Countrywide execs WHILE “overseeing” legislation for them, Jefferson stashing thousands in his freezer and STILL BEING IN CONGRESS, and on and on it goes. Democrats are NOT held to the same standards as Repubs!! Even in the MEDIA as we see Olbrrmee get away with calling Steele “self-loathing” BECAUSE he is black, yet Imus gets killed for his comments (not that the idiot shouldve said it)! There are examples EVERYDAY (see Newsbusters.com) where Dems say nearly anything they wish about blacks (Condi, Powell, Judge Thomas, Steele, etc.) with NOTHING from the “race-baiting poverty pimps” like Sharpton and Jackson. The hypocrisy in the Democratic Party and the media is STUNNING! One more example. The left is taking jabs at Jindal for talking about his experiences “during Katrina” as they shift definitions to suit the narrative. If talking about Bush, it’s from days before landfall to sometime in the future, but when talking about Jindal it’s precisely the time between landfall and downgrade to T.S. and not one second longer! I’m waiting for just ONE Democrat to explain ANY POSITION coherently WITHOUT name-calling… I’ll be waiting for awhile I guess.

  22. It would be very easy to write up a one sided laundry list coming to the opposite conclusion you have drawn Tiderguy. I’ll be brief Jack Abramoff and Tom Delay.

    As for Jindal, it appears he embellished his story just a bit to place himself somewhere he wasn’t at the time. That used to be called lying. Now it is called spin.

    Your list is like saying because this teenage girl got knocked up it proves the mother of two next door is a virgin.

    The simple fact of the matter is Washington on both sides of the aisle was sold off to the highest corporate bidders some time ago. As long as we the people allow the obscene amounts of money needed to compete in the job application procedure for public office to continue and allow the revolving door of corporate lobbyists/politicians to influence the crafting of public policy with the kind of campaign contributions that smells of corruption, these competing lists will continue.

    The Democratic party is far more likely to throw the middle class and the bulk of US citizens a bone while individual politicians go on their quest for riches. The Democratic party actually believes that government can work and does serve a useful purpose. Republicans are quite clear that they believe that government is the problem, that it doesn’t work and want to shrink it down so small that it can be drowned in the bathtub. They want it to fail. When the government fails there will be nothing in the way to stop all of the money and power from flooding to the top.

    Bush did an excellent job of proving that by placing mediocre people with a myopic ideology in positions of government that they outcome is likely to be failure.

    The Republicans had their chance. They blew it. They drove the country into a ditch. The American public voted them out.

    For the last eight years the president and republican party demanded more unitary executive powers that included the right to warrant less surveillance, suspension of habeas corpus, expanded use of claiming state secrets privilege and immunity for corporations complicit in illegal activity. The democrats, like wimps acquiesced to these power grabs by the executive. A lot of the outrage and bluster on the right borders on, if not crosses the line of sedition and treason. Now is the time for them to beware of the power they help grant the government because Obama is showing signs that he doesn’t want to give all that power up.

  23. Big Easy

    Once againe the blog train has derailed from the topic at hand. We know that the politicians and corporations only have their own intrests in mind but that does not mean we can not hold those people responsable for their actions.

    This started with the statement that if the money spent on the bail out of corporations was given to the people who are going to have to pay for it, Taxpayers, the economy would recover quicker.
    At this point we have almost 1.6 TRILLION $s pledged for bail outs. All of which has to be borrowed. Figure out how many people over 18 and pay taxes and divide that money up between them.

    This isnt a Dem/Rep issue, Bush and Obama supported the stimulus package and both gave one out. This goes back to trickle down economics. WHAT we need to do is feed the roots of the economy, the people who have been hardest hit, THE WORKING CLASS.

  24. Tider1701

    And WHAT benefits the working class more than tax cuts? Nothing! The gov’t acts like a middleman taking our money then giving it back in various ways. A cut in federal taxes, a cut in corporate taxes, and a cut in the copieate tax RATE would’ve done way WAY more than this pork laden monster called “stimulus”! The gov’t is NOT SUPPOSED TO REDISTRIBUTE WEALTH in the same way it could dole out happiness. It is supposed to keep us safe and get out of the way of commerce. Now I don’t want monopolies either, but what this admin is doing is terrible. They lecture about planes, yet use 757’s every chance they get! Besides that, they DEMANDED that some banks take TARP money even if they didn’t want to (I.e. Wells, Northern Trust, etc.)! Now how is that “stimulus”??

  25. Tider1701 writes: “And WHAT benefits the working class more than tax cuts?”

    1. You are absolutely correct. Tax cuts create more and better jobs and tax increases destroy jobs, wealth and liberty. Tax cuts also increase revenues to the government.

    2. The budget that Mr. Obama is proposing contain projections that assume the productive will stand still for his plunder. They will not.

  26. Tiderguy

    Christopher, you are a GREAT example of the left. Debate until you are PROVEN WRONG, then name call and stop the debate. So you think tax cuts DO NOT WORK? Then go read an econ 101 book, chief. Dems like to say that tax cuts COST gov’t. They don’t. It’s just a political ploy to let folks like you point and say “I told you the Repubs were greedy!” It’s just uninformed blather. Tax cuts, tax cuts, spending cuts, spending cuts. The reason most on the right always talk about it is IT WORKS! Always has, always will in America.

  27. Prove that tax cuts work the way you wish Tiderguy. Just saying it over and over and over like some magical incantation doesn’t prove diddly. We had tax cuts for eight years of Bush. There is either a major lag time to this magical swelling of government coffers and wondrous effects on the economy or your wishful thinking is just that. The economy crashed after eight years of tax cuts. What went wrong? You have not proven me wrong. You have proven you are a typical right wing extremist who is divorced from reality. You and Tim are whining about tax cuts and the stimulus bill is almost half tax cuts.


    The title page of the tax cut section of the stimulus.

    Sec. 1000. Short title, etc.
    Subtitle A—Tax Relief for Individuals and Families
    Sec. 1001. Making work pay credit.
    Sec. 1002. Temporary increase in earned income tax credit.
    Sec. 1003. Temporary increase of refundable portion of child credit.
    Sec. 1004. American opportunity tax credit.
    Sec. 1005. Computer technology and equipment allowed as a qualified higher education
    expense for section 529 accounts in 2009 and 2010.
    Sec. 1006. Extension of and increase in first-time homebuyer credit; waiver of requirement
    to repay.
    Sec. 1007. Suspension of tax on portion of unemployment compensation.
    Sec. 1008. Additional deduction for State sales tax and excise tax on the purchase
    of certain motor vehicles.
    Sec. 1011. Extension of alternative minimum tax relief for nonrefundable personal
    Sec. 1012. Extension of increased alternative minimum tax exemption amount.
    Subtitle B—Energy Incentives
    Sec. 1101. Extension of credit for electricity produced from certain renewable resources.
    Sec. 1102. Election of investment credit in lieu of production credit.
    Sec. 1103. Repeal of certain limitations on credit for renewable energy property.
    Sec. 1104. Coordination with renewable energy grants.
    Sec. 1111. Increased limitation on issuance of new clean renewable energy bonds.
    Sec. 1112. Increased limitation on issuance of qualified energy conservation bonds.
    Sec. 1121. Extension and modification of credit for nonbusiness energy property.
    Sec. 1122. Modification of credit for residential energy efficient property.
    Sec. 1123. Temporary increase in credit for alternative fuel vehicle refueling property.
    Sec. 1131. Application of monitoring requirements to carbon dioxide used as a tertiary
    H. R. 1—193
    Sec. 1141. Credit for new qualified plug-in electric drive motor vehicles.
    Sec. 1142. Credit for certain plug-in electric vehicles.
    Sec. 1143. Conversion kits.
    Sec. 1144. Treatment of alternative motor vehicle credit as a personal credit allowed
    against AMT.
    Sec. 1151. Increased exclusion amount for commuter transit benefits and transit
    Subtitle C—Tax Incentives for Business
    Sec. 1201. Special allowance for certain property acquired during 2009.
    Sec. 1202. Temporary increase in limitations on expensing of certain depreciable
    business assets.
    Sec. 1211. 5-year carryback of operating losses of small businesses.
    Sec. 1212. Decreased required estimated tax payments in 2009 for certain small
    Sec. 1221. Incentives to hire unemployed veterans and disconnected youth.
    Sec. 1231. Deferral and ratable inclusion of income arising from business indebtedness
    discharged by the reacquisition of a debt instrument.
    Sec. 1232. Modifications of rules for original issue discount on certain high yield obligations.
    Sec. 1241. Special rules applicable to qualified small business stock for 2009 and
    Sec. 1251. Temporary reduction in recognition period for built-in gains tax.
    Sec. 1261. Clarification of regulations related to limitations on certain built-in
    losses following an ownership change.
    Sec. 1262. Treatment of certain ownership changes for purposes of limitations on
    net operating loss carryforwards and certain built-in losses.
    Subtitle D—Manufacturing Recovery Provisions
    Sec. 1301. Temporary expansion of availability of industrial development bonds to
    facilities manufacturing intangible property.
    Sec. 1302. Credit for investment in advanced energy facilities.
    Subtitle E—Economic Recovery Tools
    Sec. 1401. Recovery zone bonds.
    Sec. 1402. Tribal economic development bonds.
    Sec. 1403. Increase in new markets tax credit.
    Sec. 1404. Coordination of low-income housing credit and low-income housing
    Subtitle F—Infrastructure Financing Tools
    Sec. 1501. De minimis safe harbor exception for tax-exempt interest expense of financial
    Sec. 1502. Modification of small issuer exception to tax-exempt interest expense allocation
    rules for financial institutions.
    Sec. 1503. Temporary modification of alternative minimum tax limitations on taxexempt
    Sec. 1504. Modification to high speed intercity rail facility bonds.
    Sec. 1511. Delay in application of withholding tax on government

  28. Tiderguy

    Okay, it’s clear that you can’t read economic data AND you don’t care to learn. We call you people, libtards. Read up on what it means when the Dow hits 14,000 and unemployment hits 20 lows. Surely you are unemployed, so you should have LOTS of time. And get off Kos, it’s rotting you brain. If you ever had one.

  29. Why is it that people who are the first to whine about name calling do so much of it when confronted with legitimate rebuttals to their myopic thinking ? Is it the way you choose to avoid addressing any of the points I have made in my previous comments? Rage on Tiderguy. Alone.

  30. travelah

    Christopher, you have not made a legitimate rebuttal. You have instead insinuated that the economy crashed because of cutting income tax rates. You then attempted to extol Obama’s “tax cuts” as something notable. Following that, you insisted that your opponent read an Economics 101 level text not realizing that most economic studies begin at the “200” level and the serious issues of taxation and governmental effects on productivity and growth are not adequately covered until later coursework. What you are demonstrating is you lack any knowledge of economic theory and practice. Even Kennedy’s Keynesian economic team understood the value of cutting marginal tax rates.

  31. travelah what you are demonstrating is a clear lack of reading comprehension. Your synopsis is so far off from the actual words, it’s like you are in another dimension.

  32. travelah

    Christopher, I did not offer a synopsis which is an outline or summary of a treatise. I simply commented on your neophyte musings as there was certainly nothing sustainable as a treatise in any of it. You simply do not know what you are talking about.
    The PFTT(sP), it seems pretty clear that the little blue pills do indeed rush the blood to your brain. Keep up the good work.

  33. Piffy!

    some more of those “Ad Hom” attacks you love to criticize others for travelah?

    how shocking!!!

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