Representative Louie Gohmert from the 1st Congressional district of Texas has proposed an alternative to spending the remaining $350 billion dollars in the bailout package from a few months ago.
Erik Erikson’s blog over at Redstate does a better job of explaining than I do, but the long & short of it is that Gohmert’s plan is to give a two month tax holiday in January and February ’09. Not salex tax, that’s FEDERAL INCOME TAX & FICA tax. That means for the first two months of 2009, there would be no deductions from your checks (insurance etc not withstanding). The supposition is that tax payers who make about $50,000 per year will be able to save about $2000. That would cost the government about $332 billion, which is still less than the proposed $350 would have cost. What do we gain from that?
- That’s $2000 (for a $50,000/year income) to put directly into the economy, rather than giving it to the government to mismanage. People who are having mortgage issues? How would an extra $2000 help? What about an extra $2000 toward credit card debt, or to help stave off unemployment or to put toward a new car.
- It rewards the American worker, the producers of the economy, rather than offering a handout to those who are simply consumers. This is different than Obama’s tax cut to 95% of America, where 40% of those people don’t pay taxes at all. Those who don’t have an income, they don’t get a break..
- It doesn’t require beaurocracy or governmental oversight at all. It simply requires that people take their $2000 and do something with it.
Some will say, but that will end up costing the government billions if they don’t get tax dollars. Keep in mind, they already approved giving out an additional $350 billion. This will be less than that. The government will actually SAVE money with this plan.
So, what do you do? First, fill out this petition…
Then, write your congressman and ask them to support Representative Gohmert’s plan.
This is easy to do, it costs nothing, and you’ll be flexing your democratic muscle. What do you have to lose? Let’s go!
