No, we're not talking about Sen. John Kerry and the Iraq war, but rather about Rep. Paul Ryan, R-WI, 1st District, and stimulus packages.
Ryan, you'll recall, voted for both the $750 billion bank bailout, which passed, and the $14 billion auto bailout, which failed.
Well, that was then, this is now. It's another day, a new President, and yet another stimulus package that's being discussed (the previous ones having accomplished... um, little?)
WCLO, a Janesville and Beloit radio station, reports today that Ryan is critical of the amount being returned to the American taxpayer.
"He tells WCLO's Stan Milam Show only 10% of the money goes out the door in 2009, and the centerpiece is a rebate amounting to only $10 a week for individuals, and $20 for couples.The station quotes Rep. Tammy Baldwin, D-WI, 2nd District, in favor of the stimulus, saying Congress needs to move quickly.
"Ryan says it's not worthy the new president's signature."
The measure is moving through the House of Representatives this week.
Rather than give money to businesses, or spend money on what are in many cases unnecessary public works boondoggles, a much better approach would be to provide tax cuts and credits to businesses, especially for hiring, investment (buying equipment and vehicles) and research and development.
ReplyDeleteWe should also permanently cut the corporate tax rates, which are among the highest in the world. In fact, we should eliminate corporate income taxes entirely. Corporate profits are taxed twice (at the corporate level, then again when dividends are paid to or capital gains realised by investors) - If we improve the tax climate for business, they will hire more people (who will pay income taxes) and make more profits which will be taxed when paid out to shareholders.
We should create a climate that rewards business success, instead of punishing it. We all benefit when businesses do well.