Writing an OpEd in the WSJ, Rush Limbaugh proposes a far better plan to stimulate the economy than the huge pork spending package pushed by the collectivist trifecta of Pelosi/Reid/Obama. (A bunch of angry leftists are hurriedly now hitting BACK to get off of a page that mentions Rush without insulting adjectives). He proposes that the President actually be bipartisan rather than just talking big about it. Limbaugh’s proposal would get our economy back on track quickly, whereas the bill that passed the House yesterday will do nothing more than add to the deficit.
There’s a serious debate in this country as to how best to end the recession. The average recession will last five to 11 months; the average recovery will last six years. Recessions will end on their own if they’re left alone. What can make the recession worse is the wrong kind of government intervention.
I believe the wrong kind is precisely what President Barack Obama has proposed. I don’t believe his is a “stimulus plan” at all — I don’t think it stimulates anything but the Democratic Party. This “porkulus” bill is designed to repair the Democratic Party’s power losses from the 1990s forward, and to cement the party’s majority power for decades.
That loud clang that you just heard was a hammer squarely hitting the nail on the head. This is not about stimulus, this is a shopping spree for frustrated collectivists.
Fifty-three percent of American voters voted for Barack Obama; 46% voted for John McCain, and 1% voted for wackos. Give that 1% to President Obama. Let’s say the vote was 54% to 46%. As a way to bring the country together and at the same time determine the most effective way to deal with recessions, under the Obama-Limbaugh Stimulus Plan of 2009: 54% of the $900 billion — $486 billion — will be spent on infrastructure and pork as defined by Mr. Obama and the Democrats; 46% — $414 billion — will be directed toward tax cuts, as determined by me.
I say, cut the U.S. corporate tax rate — at 35%, among the highest of all industrialized nations — in half. Suspend the capital gains tax for a year to incentivize new investment, after which it would be reimposed at 10%. Then get out of the way! Once Wall Street starts ticking up 500 points a day, the rest of the private sector will follow. There’s no reason to tell the American people their future is bleak. There’s no reason, as the administration is doing, to depress their hopes. There’s no reason to insist that recovery can’t happen quickly, because it can.
If you deny that this approach would get the economy going again then you are simply so blinded by the Lefty Kool Aid that you are denying simple economics. I look forward to the ridiculous ad hominem attacks (Obama supporters, go ahead and Google that, then come back) that will flow in the comments for this post.
Personally, I have not listened to Limbaugh in over a decade, not since the Clinton presidency, but when someone is right they are right. Obama and his collectivists minions want to go on a spending spree for the benefit of their party, an economic recovery is not a big part of the plan as they have more power if we are more dependent on them. Remember how much power was seized by FDR in the recession that he turned into a depression? Remember also that FDR is the patron saint of the Left. Do they really want a recovery? I am not so sure.
Read the OpEd here.