The Business Examiner asked readers of the BE Daily on Wednesday to voice their thoughts on the various stimulus packages that have already passed or are currently under discussion. Will they work? Are they wastes of taxpayer dollars? Are they too little, too much? Here are some of those responses:
One of the provisions in the original “stimulus” bill, which has since been dropped, was an allocation of $200 million for contraceptives. I don’t know what this bill is supposed to stimulate, but it won’t stimulate the economy.
In some regards, it seems more like a budget bill that would never get passed the House. Many things get funding that would never get funding if it were brought up for debate. Other things are funded by this bill that should be funded in the normal budget process such as government buildings, office furniture and vehicles.
The biggest problems are the pet projects and kick-backs to groups that have funded campaigns. Some examples of this are: $160 million for “paid volunteers” at the Corporation for National and Community Service; a $246 million tax break for Hollywood movie producers to buy motion picture film; $200 million in funding for the lease of alternative energy vehicles for use on military installations.
Even though the biggest problem our economy faces is mortgage lending, the only thing in the bill that deals with it is an amendment that would provide government backed mortgages to people who can’t afford to pay them. That is exactly what got us into this mortgage mess in the first place. The popularity of this bill is dropping quickly. In the words of one senator, “the more people find out what’s in this bill, the more they oppose it.”
More jobs will be created by making it easier for businesses to start, grow and expand. Cut taxes including employment taxes.
We got into this mess due to spending far in excess of income – by government, business and the public. The solution is to ALL live within our means. Businesses that are not viable should be allowed to fail. Strong companies will expand to replace them.
Regarding positive change stimulus, I think the country should take the lead in developing a high speed public rail network throughout North America. To secure funding, we could lease public highways to public companies. Those leases could serve as collateral on bonds to finance the United States’ portion of the public rail network. This would represent a huge step towards localizing our economy and discouraging (through market forces, i.e. public company tolls) wasteful transport of unnecessary foreign goods. Highways would still require maintenance, but it would no longer be a direct government responsibility. Construction of the rail network would create new jobs and stimulate intracountry tourism for the benefit of all.
No controls or mandates on how funds were to be spent so the ones that ran their corporations into the ground are being rewarded with large bonuses while the taxpayers are being sent to the poor house. Our children and our grand children are the ones that are going to have to pay if we don’t bankrupt the country. I think the hand outs were squandered at our expense.
Fidelity Contract Services, Inc.
Editor’s note: Coffee Break is a weekly poll that is conducted via the BE Daily. Questions are asked every Wednesday and responses are posted the following Friday. Questions and answers are then published in the Business Examiner. Please include your name, company and city.