Askheritage.org – Askheritage.org is a conservative/republican website where they talk about the current topics that America is faced with.Sean Hannity and Rush Limbaugh often mention the site.Here is the latest post on askheritage:
Three Reasons a Spending ‘Stimulus’ Is a Bad Idea
Liberals in Congress and the incoming Obama administration want to spend a trillion dollars— or potentially more — of taxpayer money as part of an economic recovery plan. This is over 50 percent more than our annual defense budget, and over five times California’s annual budget! And that would be on top of all the other big-government spending.
But government spending plans do not stimulate the economy. They are based on the idea that feeding “new” money into the economy will create economic growth. But the money isn’t new—it’s either taxed or borrowed. It’s essentially redistributed from one group of people to another, and no new money is created. (More)
1) The private sector—not public spending—drives growth. Economic growth comes by individuals and entrepreneurs operating in free markets, not by Washington spending and regulations. Massive spending hikes in the 1930s, 1960s, and 1970s all failed to increase economic growth rates. (More)
2) Giving money to states does not increase growth. Increasing federal borrowing to keep state taxes from rising is like running up a Visa card balance to keep the Mastercard balance from rising. State taxpayers are also federal taxpayers, so those being bailed out will still have to bear the costs in the end. (More)
3) Highway spending does not create jobs. It merely transfers jobs and income from one part of the economy to another. As Heritage Foundation expert Ronald Utt has explained, “The only way that $1 billion of new highway spending can create 47,576 new jobs is if the $1 billion appears out of nowhere as if it were manna from heaven.” (More)
A better way to stimulate the economy is to make the tax cuts permanent (unlike Obama’s tax plan), to lower corporate tax rates, and to expand domestic energy supplies. Tax cuts give incentives to work, save, and invest, thus creating jobs and increasing economic growth. Expanding drilling for oil, shale, and natural gas will cause energy prices to fall and create private sector jobs without government subsidies.
That’s all we have for now on Askheritage.org.*Sponsored Links*