Even as the health care debate continues to rage, Democrats have their hearts set on countering their disastrous ratings and the loss of the independent voter by rolling out a job creation package, or Son of Stimulus Plan. There are no clear plans yet, but the ones floating around as preliminary ideas are bad enough on their own.
With price tags going as high as 1.2 trillion dollars and various gimmicks being trotted out to hide their cost and avoid blame for inflating the already massive deficit further, the Son of Stimulus is likely to be as big a disaster as its parent.
Take House Democratic leader Steny Hoyer’s plan to pay for a job creation plan with a financial transactions tax. Not only would this plan help push investors out of the US stock market, at a time when the market is already in bad shape, but it would weigh down the stock market thereby preventing companies from expanding and going public. Which naturally would crush the very same job creation congressional Democrats claim to want.
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