I haven't written my congressman before but I had to last night. It gives me a good excuse to post again. There has been to much for me to try to boil down lately so i bailed on writing. The content of the email is as follows, cleaned up and some what more coherent. You try to keep it short if you want someone to read it.
The stimulus package at best will stop the economic slide in a few months and at worst is inadvertent(hopefully) long term social engineering. Fiscal conservative should vote no and hang this package that will fail around the necks of the left/collectivist wing of the Democratic party. Ask for an amendment affirming the goals and principles of a free market and a clear path for banks to buy back their stock. It should be along the lines of what Morris suggested late last week. Let them vote it down. Let them explain what their true beliefs are.
The individual welfare\tax credits\tax cut have been tried and are too small and two short term. We have tried it. The business cuts are just a gimmick. It is taking money that business will save in taxes in the future and gives it to them now. What does that do to the business two years from now. The infrastructure spending is far to little of the package and is I believe just short of useless. Any jobs that are created by this appear to be relatively short term. What happens to those workers when the work is done in the next 2-3 years?
My biggest concern is how long are the social service additions going to last? Will the extension of unemployment insurance and other social program increases be permanent and if so what does this do with concern to increasing dependence on government? Is this a veil attempted to engineer a larger welfare state? A more collectivist/socialist society?
My preference would be for a monetary fix. Revert the mark to market and up tick rules to that of two years ago, make clear that a strong dollar is imperative and the top priority, stabilize the tax rates for at least the next 2 years(the uncertainty is killing us), cut cooperate and capital gains taxes to leverage off shore money coming in to the US, put in place clear path for stock buy back from the government, enforce the rule on the books( call the credit default swaps what they are insurance) and buy up or trade stock for the toxic assets they are still gumming up the works. Japan 1990? FDR? Does history mean nothing?