Thursday, July 1, 2010

Unemployment

Here's a part of the stimulus package you probably didn't think much about. It's based on the theory that if you pay people not to work, everyone will soon be back to work.


What could go wrong?
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1 comment:

Brad K. said...

I have heard Congress described as the "school of unintended consequences", and has never graduated a class.

Actually, I believe historically that the single most effective job-creator and economy booster (and increasing tax collections) the government ever stumbled into (besides WWII) was cutting corporate tax rates. Of course, the downside to cutting corporate tax rates is that it doesn't by Democrats any votes.

Instead, boosting corporate tax rates (the new Pelosi/Obama rate is what, 38%, highest in the world?) is pushing investors and operations (and jobs) overseas.

Go figure, on how that works.

Speaking of history, didn't the US struggle with inept economic handling, until Germany felt secure in sinking American ships at will, and Japan to making an unprovoked major military attack? I was taught in high school (some 40 years ago now), that the strength of the economy is a critical piece of national security. Yet Obamanomics seems content to count economic failure as mere vote-gathering.

July 2, 2010 at 5:59 AM

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