[Homestead] vodo economics

Don Bowen don.bowen at earthlink.net
Thu Apr 10 16:26:04 EDT 2008


I see very little mentioned about the misnamed stimulus package that is supposed to shower us with government checks in May.  That is about the worst case of voodoo economics since the days of the Raygun tax cuts.  Maybe not, the administration waging a war on borrowed money while cutting taxes tot he wealthy is far worse.

That money that is showering on you is borrowed money.  Borrowed from many foreign countries who will get the interest payments.  Borrowed money during a year that will break all previous records in deficient spending.  Borrowed money that is supposed to jump start the economy but if it is spent will mostly go toward goods manufactured in foreign countries.  Dumb and dumber.

Then the current Senate version that will allow builders to take current losses and apply them to profits made four years ago.  Several builders have sold land that has been prepared for building for as low as $.23 on the dollar.  That huge lose will be applied toward the huge gains in 2005 and 2006 resulting in billions of borrowed money in refunds.  Builders that were cautious and showed reasonable profits will not benefit.  The house version does not contain this giveaway and hopefully they have the guts to keep it out of the compromise but I doubt it.


Don Bowen      KI6DIU
http://www.braingarage.com/Dons/Travels/journal/Journal.html


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