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Opinion  |
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Analysis and Commentary on President Barack Obama’s Stimulus Package
Pro:
Plan will help create jobs, caps CEO bonuses
The Advocate
First off, let’s analyze the philosophy that screwed up our economy in the first place: Reaganomics.
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The most popular theory at work within Reaganomics, and the one touted most by Wall Street, is that we should give all our money to rich people and that we will somehow make money by doing it. This is known as the “trickle-down theory” or supply-side economics, which essentially states that we will make money in the form of more work by giving rich people more money or, at the very least, by not making them pay any taxes.
The trickle down theory is nothing new. During the late 1800s, it was known as the “horse and sparrow theory” which stated that “if you feed a horse enough oats, the sparrow that follows will eventually get some.”
Think about that for a second.
In fact, every time the economy crashes and burns the trickle-down theory is usually at work in one form or another.
Why would (should) we give money to people that are better off fiscally and therefore don’t need it? Never mind.
Let’s say, for the sake of argument, that we should in fact, give more money to rich people for no discernible reason other than the vague hope that somehow a percentage of that money will “trickle down” to the rest of us.
Let us also say that giving rich people more money and not making them pay any taxes, while enjoying all the same privileges the rest of us have to pay money for, is somehow logical.
Yes, the trickle down theory, and supply-side economics, work if you are rich. The rich get theirs and everyone else is pretty much screwed.
President Barack Obama’s stimulus package deserves all our support. Because for all intents and purposes, the stimulus package effectively makes the trickle-down theory and Reaganomics as dead as Ronald Reagan. It also benefits anyone who doesn’t have more money than God.
That means that it benefits you.
Almost all opposition to the stimulus plan comes in the form of spoiled Wall Street brats and Republicans who kick and scream, “We want a Happy Meal! We want a Happy Meal!” In other words, they want something and don’t mind throwing a temper tantrum to try and get it.
The plan also caps performance-based bonuses for CEOs and executives that work at corporations or banks that take federal stimulus money. This ensures that the top people in the organizations that led to the downfall of the economy don’t rob the American people by taking bonuses based on the performance they gave.
The plan also prohibits such stupid ideas as loaning yourself money, a la Lehman Bros. and AIG. Go ahead, loan yourself a few million dollars and see how that works out for you.
At the same time, the plan will immediately create infrastructure jobs in the form of construction and repair for highways, bridges, and public buildings, potentially creating 400,000 jobs. It also reduces the tax burden for persons and married couples that make less than $250,000 a year, or the vast majority of Americans.
The vast majority of all the billions allotted in the stimulus package will end up being spent where that money is needed the most, like making sure that bridges don’t collapse during rush hour and kill a bunch of people.
Basically, all that money will be spent on things that no one should oppose, unless they’re incredibly stupid, selfish or both.
So when choosing a side to support about the stimulus, one has to ask themselves: “Do I make less than $250,000 a year? Will I get more in financial aid? Do I want a job and are roads worth driving on? Do I really like the idea of philosophically picking peanuts out of a rich person’s poop?”
In this Issue: |
Budget plans prepare for the worst
Student groups act to help veterans Deadlines arriving for student government positions Portland Authors share essays in final Herstory event Dean to retire after six years of service at MHCC 2009-10 ASG budget clears hurdles, awaits approval by district board On Campus & around town Staff Editorial -Women throughout history pave the way to future
MHCC Budget: Out of the red, N2 the black Male shows appreciation for women Pro: Plan will help create jobs, caps CEO bonuses Con: Everything won’t be solved, trust not rebuilt |