On January 18, President Bush asked for a $145 Billion worth of tax relief to give the economy a “shot in the arm.” The House passed a bill which raised that to $161 Billion. Yesterday, not to be out done, the Senate attempted, but failed, to pass a $204 Billion bill.
As I have thought about this over the past weeks it has been discussed, I have been amazed, shocked and disappointed in our political process; or as Perino says “…the way the legislative process works.”
The idea of an economic stimulus started out simple enough, seemed to have merit, and an action our President and Congress should take. However, it quickly got bogged down in the process. The check should be in the mail, but the money could have already been in your hands.
We need to change the way the legislative process works. I am suspicious of how many incumbents are only supported this measure just to go home and tell you they personally sent you a check; what a waste of our tax dollars.
Let’s think outside the box. Let’s take a more direct approach. When next Congress wants to pay us from the money they take from us, they can simply pass a bill to instruct employers to immediately suspend Federal Income Tax withholding from paychecks until that employee receives $600. For those who are self-employed, they can simply subtract $600 from their current quarterly tax payment. Congress can include necessary language to change the tax code so that taxpayers aren’t penalized next year when filing their 2008 tax returns.
How simple. And this will put additional dollars in consumer’s hands starting with next week’s paychecks. These dollars will more likely be used for the purpose of stimulating the economy rather than one large check that will come some time in the future.
This will save us, The American Taxpayer, from borrowing $200 Billion from another country.
This will save us, The American Taxpayer, from paying interest on $200 Billion.
This will save us, The American Taxpayer, millions of dollars it will cost to print checks and pay the postage to deliver them.
Now this proposal is simple. A more direct approach to be sure, but there is a danger congress may fear. If we remove the “legislative process” and demonstrate how easy it would be to withdraw government’s hand in seizing private money – people may begin to think differently. They might think the economy would more quickly grow without the first taking and the insatiable bureaucracy grown to seize, allocate, and disperse it.
About the Author:
Jeff Applekamp, American Conservative and Republican candidate for Oklahoma Senate District 35 may be reached by e-mail at jeff4senate@cox.net and online at http://www.jeffapplekamp.us/.