This week, the administration announced the latest plan to "save" the economy with another stimulus bill that will cost taxpayers $50 billion. The first problem with this misguided
approach to spend our way out of a recession is that we don't have $50 billion dollars. As it stands right now, 42 cents of every dollar the government spends is deficit spending. One day we actually are going to have to pay back that money.
The answer to our economic problems is not more government spending -- it is LESS spending. The federal government has plenty of money, you pay enough in taxes, the problem is they spend too much. Every family in America understands that you can't spend more than you make.
A new Rasmussen Reports poll finds that 55 percent of American voters are opposed to this second spending bill. I am ONE of only 17 of the 435 members of Congress to vote NO to ALL of the previous stimulus and bailout bills. I can assure you that I will vote NO on this one as well. Congress should look for ways to cut spending and support legislation that puts more money in the hands of those who earn it -- the American taxpayer.
The federal government has proven through the first failed stimulus bill that spending money does not create real jobs. It is a flawed premise to think that we can spend our way into prosperity. Government doesn't create jobs, it creates programs and those programs are paid for with taxpayer money. Real jobs are created by the private sector and small business communities.
I will continue to support proven methods of addressing our economic problems. History has confirmed two things: a "spending stimulus" does not work; and tax cuts are the only proven road to recovery. Presidents Kennedy, Reagan and Bush all proved that when we cut taxes and let Americans decide how to spend and invest their money the economy prospers.
Tax cuts apply to EVERYONE who pays taxes -- not just the rich. If you pay federal income taxes, then a tax cut affects you. In addition, it helps private industry. Instead of the government creating more government programs and calling them jobs that are paid for with your tax dollars, let's give small business owners the tools and incentives to grow their businesses so they can put Americans back to work.
Currently, the United States has the second highest corporate income tax in the world. After the first of the year, the U.S. may have the highest, since Japan (now #1) is considering reducing its corporate income tax. We need to be looking at ways to promote growth, not punish it. Our country was founded and has flourished under the principles of capitalism. It's time we get back to the basics.
I do not believe the federal government is here to solve all our problems. Creating another government program is not the way to a lasting recovery, it only digs the hole of debt deeper.
The federal government needs to STOP THE SPENDING! Let Americans decide how to spend their money. And that's just the way it is.
God and Texas,
Member of Congress