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Hey Congress, Say No To “Stimulus 2”

On Tuesday, the National Taxpayers Union was one of more than 40 groups that warned Congress against a so-called “Stimulus 2” in this press release:

“As Congress scrambles to complete work on a number of issues during the final three weeks of the current session, an open letter from more than 40 citizen groups urged lawmakers "to reject a massive increase in government spending disingenuously disguised with a 'Stimulus 2' moniker." The joint statement was organized by the 362,000-member National Taxpayers Union (NTU).

"Congress should cut taxes and cut spending instead if it wants to stimulate the economy," the signatories noted. "Government doesn't create wealth; it either redistributes it or destroys it. Our members understand that shifting money from individuals to government programs (many with questionable performance records) will not 'stimulate' sustainable economic growth."

In their letter to members of Congress, the coalition, which includes ACTA, pointed out:

Government doesn't create wealth; it either redistributes it or destroys it. Our members understand that shifting money from individuals to government programs (many with questionable performance records) will not "stimulate" sustainable economic growth. (emphasis added)

“In early 2008, many of our organizations pointed out in an open letter that if "Congress seeks true stimulus that is economically sound, it ought to reduce tax rates ... ." That suggestion remains as true today as it did earlier this year. Low tax rates on hard work and investment will do much more over the short and long term to expand prosperity in America. Reject calls for higher federal spending.” (emphasis in the original)

For background information, see:

  • The Hill newspaper reports “Democrats intend to move a second stimulus package costing at least $50 billion this month and make its passage a priority, Rep. Rahm Emanuel (D-Ill.) said.“
  • Wall Street Journal’s economic blog writes: “ Former U.S. Treasury Secretary Lawrence Summers Tuesday said a second fiscal stimulus program is “the right response” to the current turmoil facing the U.S. economy but the plan shouldn’t raise projected deficits beyond a year or two.”
  • Forbes magazine reports: “Senate Appropriations Committee Chairman Robert Byrd is peddling a $24.1 billion stimulus bill that includes $10 billion for infrastructure and energy investments, like $100 million for Amtrak and $52 million in additional funding for the Federal Housing Administration. Democratic presidential nominee Barack Obama is pitching a $50 billion stimulus plan.”
  • Additional reporting in the Wall Street Journal, U.S. News & World Report, and Detroit Free Press.

Finally, have you signed up to receive your “I don’t vote for Tax Hikers” bumper sticker?

 

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