http://www.townhall.com/columnists/WalterEWilliams/2008/01/30/stimulus_package_nonsense
Stimulus Package Nonsense
By Walter E. Williams
Wednesday, January 30, 2008
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There are three ways government can get the money for a stimulus package. It can tax, borrow or inflate the currency by printing money. If government taxes to hand out money, one person is stimulated at the expense of another who pays the tax, who is unstimulated and has less money to spend. If government borrows the money, it’s the same story. This time the unstimulated person is the lender who has less money to spend. If government prints money, creditors, and then everyone else, are unstimulated. As my colleague Russell Roberts said in a NPR broadcast, “It’s like taking a bucket of water from the deep end of a pool and dumping it into the shallow end. Funny thing — the water in the shallow end doesn’t get any deeper.”
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Good point!
And, we, of course, know who’s going to pay for it! “The Rich!”
;-)
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