In a thread in the News section poster nocompromises4me made a suggestion I thought was worth exploring: Tax cuts (or even a holiday) for “singles earning less than $70 thousand a year and couples earning less than $140 thousand a year, because it is those people who consume and create jobs.”
Give that a sexy name and it could be a winning campaign platform next year.
How about “Trickle Up Economics”?
I’m serious: the rational for tax cuts to top earners is that they will invest the savings, creating or growing companies and creating jobs. It’s a good idea in good economic times, which these ain’t. Why invest in a business when you don’t expect any customers?
If businesses aren’t hiring because consumers aren’t buying then a push to get consumer spending up should have a very stimulating effect
Trickle Up Economics will get people buying, and quickly after several years of scrimping. Remember those stupid $300 checks that mostly went straight to credit card bills (i.e. the banks)? I said at the time give them to college students if you want them to go towards retail sales.Trickle Up Economics: it’s catchy, easy to implement, will have more popular appeal than “shared sacrifice,” it implies a certain “turnabout is fair play” attitude, and at first glance it looks to be an effective idea.
Here’s another, although more difficult to implement: no sales tax on anything made in the USA.
What do you think?