Sunday, March 1, 2009
Will The Real Stimulus Please Stand Up
So much has been written and debated about President Obama's stimulus plan, that I am forced to weigh in. The huge gripe stems from two main issues: President Bush's tax cuts will be allowed to expire and employees earning $250,000.00 will see a tax increase.
The real issue here is a gigantic income and wealth inequality in America. While I'm not advocating socialism, or a command economy, those who make more should pay more. With 90% of the country's wealth held tightly in the hands of the top ten percent of citizens, there is a real problem in this country. I'm not sure how we should pay for two wars and many other essentials in this country.
The Republican philosophy advocates a nation with a few wealthy patrons and massive poverty everywhere else. We've seen the disaster that significant spending cuts by average citizens has on the economy and still, conservative Republicans are raving mad about taxes. Conservatives are entitled to their opinions but not their own facts.
Finally, the Government should not prop up the failing auto industry. Americans do not buy American cars in drove anymore. Why prop up a dinosaur auto industry that the car buying public has and continues to ignore in larger numbers quarter after quarter?
A trillion dollar stimulus package to Detroit will not change consumer's perception of American cars. Consumers simply want safe, reliable products that work. That's it, nothing more. The Japanese has proven over the last three decades that they are capable of designing cars that the world swears by in droves.
Detroit for some strange reason, did not get the message. Although there has been some improvement, the car buying public continues to ignore their product year after year. Hardworking citizens will not now, start buying American cars if their design and engineering sucks. Patriotism is out the window when hard dollars are at stake.