Not Lincoln -- Yet
Who can take a sunrise, sprinkle it with dew
Cover it with choc'late and a miracle or two
The Candy Man, oh the Candy Man can
The Candy Man can 'cause he mixes it with love and makes the world taste good
Sammy Davis
I realize a lot of folks may have never heard "The Candy Man" by Sammy Davis, but it’s the appropriate song for how President Obama sees his stimulus plan. Unfortunately, few people on the right or left are happy with the plan. One thing that is clear is the plan is designed to get the president re-elected, as a large portion of the spending will happen in 2012 (some of the spending in the plan will stretch out to 2019 -- so much for timely and temporary).
The plan is also designed to make the government bigger -- and oh boy, does it do that -- with 32 new government agencies. The plan redistributes wealth as $100.0 billion in would-be tax cuts go to folks that don’t pay income taxes (yes that money will come right back into the economy but it opens a different can of worms about right and wrong and incentives in a capitalistic society). Only $46.0 billion goes to fix highways, bridges and mass transit construction.
There is $8,000 credit for first time home buyers, but initiallym the plan was $15,000 to any home buyer -- and that was great but I’m sure nixed because someone thought it was unfair for someone with a home and paying their mortgage on time to get a break on another home. It’s that kind of envy that is crushing the spirit of the nation.
The notion that people that are budgeting their incomes, making sacrifices, and looking to get ahead should be hamstrung in a macabre effort to level the playing field. There’s $2,500 tax credit for college that falls short of the market. Its sounds good on the campaign trial but isn’t enough to have a major impact on people that can’t afford to go to college. Then there is the whopping $13 a week that folks are going to get in their checks.
Golly, that is sad.
People should get as much of their own money back from the government as possible and that means all people. It’s admirable to help folks but we must reward hard working folks that want to move up the ladder of success and not be placated into waiting for government handouts. The welfare state creates a welfare mentality and that means little initiative, scares innovation and an eventual loss of our innate desire to achieve.
The president is hoping to duplicate the successes of Abraham Lincoln, but it hasn’t gotten off to an auspicious start. True compromise wasn’t made on the stimulus bill, the Commerce job was a joke even before the Census Department was ripped out (imagine a child going to a neighbors for a play date only to be told to sit in the corner and watch everyone play Guitar Hero and eat cupcakes -- not a lot of fun) and every speech begins with pointing the finger at the previous administration. This isn’t how Lincoln got folks to cross party lines or induced former enemies to become his staunchest allies.
This week we’ll get more on mortgage modification and maybe an update on TARP II.
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