Texas Congressman Louie Gohmert (R) has come up with an alternative to the $350 Billion economic stimulus package the Democrats are rumored to have ready for Obama to sign on January 20th. It’s pretty innovative and novel.
You get to keep what you earn.
That’s right. A two month tax holiday from FICA and income tax for everyone.
Mr. Gohmert is preparing a bill to declare the tax holiday for January and February 2009 and is also gathering support at the same time. He said he thinks the government will be able to save more home mortgages, increase employment, and boost economic growth for a lower price tag this way than with any centralized bureaucratic program.
Sounds pretty simple, right? So what’s the problem with this plan? If giving the people their own money stimulates the economy, why not just let them keep it? In fact, why not let them keep it permanently?
Well, that’s the problem. There will be a tax revolt in March 2009 once people realize just how hard they are being raked over the coals with each and every paycheck. Any politician with half a brain realizes this, and that’s why it probably won’t happen. After all, what would they do if they didn’t have all that money to spend?
Still, it wouldn’t hurt to contact your Representative and ask them to support this idea. If they don’t support it, ask them why. See if you get a straight answer.
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