[mcmick]

Congressman Louie Gohmert has proposed a two month tax holiday.

No income tax or payroll tax would be withheld from the entire workforce.

Consumers and business would then have $50 billion a week (the average weekly amount collected by the federal government) to spend, invest, or save.

Those who are realistic about wealth creation, know this should be infinitely better than any proposal; we don't have to rely on theory of what consumers do when they receive a significant infusion of cash, history has made that clear.

This amount is significant plus, plus.

Not only is this doable but the money is already sitting there--the other half of the original $700 bailout bill has not been spent.

That amount almost matches the cost of this idea.

If you would like to show your support for this plan go to the site of congressman Louie Gohmert (R) Texas

[QatzelOk]

How does robbing the treasury of the money it needs to reshape the economy amount to anything positive?

I think you may have taken a logic-holiday.

[PBVBROOK]

Giving consumers money to spend only works when they use it to buy goods made in the USA. Otherwise the lion's share of the money simply goes to increase the trade imbalance or pay down existing debt. Sure some of it goes to the retailers but Obama's plan of spending the money on shovel ready infrastructure improvements seems to make more sense. Of course about all the US builds these days are weapons. Maybe a major military build-up would employ folks.

I am glad to see that Canada forked over some stimulous money to the auto industry today. I was thoroughly pissed that my tax money was going to protect foreign factories.

[dwix]

Maybe a major military build-up would employ folks.

Treading down a dangerous path, that is...

I think you may have taken a logic-holiday.

I chuckled.

[canadiancapitalist]

Maybe a major military build-up would employ folks.

*shudders* military keynesianism is alive and well I see

To O.P. brilliant suggestion. I'm on board. Let's do this thang!

[tallpaul]

How does robbing the treasury of the money it needs to reshape the economy amount to anything positive?

Government "reshaping" of the economy is how we GOT here!

I think you may have taken a logic-holiday.

ummm... ditto.

[QatzelOk]

Government "reshaping" of the economy is how we GOT here!

Big corporations have been reshaping the economy.
The government has been acting like a waiter to BIG INDUSTRY, not a protagonist.

Our economy is the result of "let the market decide." The biggest industries act in the role of "the market," as do lobby groups like AIPAC and Big Media.

[tallpaul]

The government has been acting like a waiter to BIG INDUSTRY, not a protagonist.

So, government hasn't helped, by your own statement. Now suddenly it will?

[QatzelOk]

So, government hasn't helped, by your own statement. Now suddenly it will?

It's the only institution that can counter the horrible effects of Business Control.

But before government can help, it needs to be separated from business interests.

This will require as much energy as separating church and state did. And in retrospect, church and state was probably a healthier "marriage" than private industry and state.

[tallpaul]

It's the only institution that can counter the horrible effects of Business Control.

So we'll reform the government, put the government in charge of the economy, and things will be better, right?

I doubt that an economy run by people who have little experience beyond working for government will work any better than what we have now.

[PBVBROOK]

So we'll reform the government, put the government in charge of the economy, and things will be better, right?

The government IS in charge of the economy. It has been in a very active way for close to 70 years. A bit less before 1935. Remember that Alexander Hamilton guy? He took a passing interest in the economy government hack though he was.

I doubt that an economy run by people who have little experience beyond working for government will work any better than what we have now

.

You mean people like Paul Volker, Alan Greenspan and Ben Bernacke? Yea. What would they know about economics?

[Dave]

well in the case of alan greenspan and ben bernanke, very little

volcker knows his shit though

[tallpaul]

You mean people like Paul Volker, Alan Greenspan and Ben Bernacke? Yea. What would they know about economics?

These were Chairmen of the Federal Reserve Bank, as I recall.

The Fed does not RUN the economy, although it has some influence over it.

Did the Fed cause the sub-prime lending crisis? No.

Did the Fed have anything to do with the Enron or Worldcom debacles? No.

Did the Fed give $700 billion to banks, while retaining little control what was done with the money? No.