THE CANCEL WITHHOLDING STIMULUS

If the politicians are hellbent on spending massive magnitudes of quid on year-end budgets and coronavirus relief then the appropriations should focus on necessary infrastructure and protections from coronavirus on behalf of citizens and country as opposed to off-topic pork and foreign giveaways. As well, it is a bad precedent to encourage people to rely on handouts from the government especially without regard to any fiscal responsibility. The stimulus adds more the the already massive debt the politicians refuse to shrink and in the end it is the very people they claim to be helping who will have to repay it through future inflation, higher interest rates and higher taxes not to mention a greater risk of a currency or economic collapse. This is the path of Zimbabwe towards a currency meltdown.

Instead of the time, resources and labor on producing and mailing checks based on debt why not just give workers earning under $75k a withholding credit of $2000 applied to future withholding on their paychecks? Those who are out of work collecting unemployment or government assistance should rely on those venues until they regain employment. At the same time, there should be some commensurate budget cuts either targeted or across the board excluding Medicare and Social Security so those two programs cannot be used as political footballs. The cuts should first derive from all wasteful and ridiculous pork and inefficiencies that are today's analogies to the $100 hammers and $600 toilet seats uncovered a few decades ago. This way, we are providing relief without resorting solely to printing baseless extra dollars. In fact this approach would dovetail well with abandoning the income tax and withholding paradigm altogether while accelerating our economic growth and make providing living wages easier by not burdening employers with more costs. Adopting the FairTax makes this possible as described in the table below.

The year-end budgetary reckless spending and currency creation demonstrates the failure of government and politicians to actually solve problems or do anything within reason. It is their overzealous lockdowns wiping out business. If you keep going along without forcing them to make changes then you will be destroyed.

'When criticizing government plans to take over health care on the spurious basis that government control will make it more efficient, Scragged has often referred to the government paying $100 for a $2.98 hammer or $600 for an ordinary toilet seat. It occurred to us that some of our readers wouldn't have read about these matters - after all, it's been years since the Lamestream Media spoke in such vivid terms about government waste. ' ~ By Will Offensicht | January 15, 2010

'The southern African country of Zimbabwe has one of the most horrendous track records regarding hyperinflation. Hyperinflation, which is when the prices of goods and services rise uncontrollably, usually occurs when a government prints more money into the money supply than what can be supported by the country’s economic activity.'

'Mugabe had been a Socialist revolutionary icon who was elected as president after the revolution but later regressed into an oppressive dictator. Mugabe’s tight grip on power, rampant corruption and monetary policies of his regime are some of the principal causes of Zimbabwe’s economic problems.'

'Mugabe’s policies regarding land redistribution from white commercial farmers to the majority black population had the undesired effect of widespread food shortages and economic sanctions from the U.S. and E.U.' ~ Tirza Morales

'Congress has now enacted nearly $5 trillion of potential support in response to the COVID-19 pandemic, but critics say the money largely missed the most needy recipients.'

'The latest bill includes more than $900 billion of support for small businesses, expanded unemployment benefits, recovery rebates, funding for schools, transportation spending, money for COVID testing and vaccines, and other spending and tax cuts.'

'It also contains hefty sums of corporate welfare.'

'Congress voted on the 5,593-page spending package only hours after they unveiled it, with lawmakers claiming urgency was necessary to rescue an ailing economy ravaged by the coronavirus pandemic.'

'Lisa McCormick, a progressive Democrat in New Jersey...... noted, “One observer said the law is ‘exactly what one would expect from a dysfunctional, tone-deaf Congress: a pork-filled cluster filled with anything and everything that has nothing to do with the coronavirus pandemic or relief.’ I am once again disappointed and disgusted by politicians who claim to represent our nation.”

'Federal tax exceptions and deductions already cost more than $1.6 trillion each year, but $110 billion in new tax breaks shows that Congress won’t help people survive without taking care of special interests, said McCormick.' ~ by Amanda Rapace | December 22, 2020

'Fiscal responsibility is out of fashion. The latest federal budget, drafted by a Republican president and Republican-controlled Congress, blew through the loose limits established under Democratic President Barack Obama. The result is trillion-dollar deficits as far as the eye can see.'

'Business subsidies undermine both capitalism and democracy. Allowing politicians to channel economic resources toward their preferred ends distorts investment and trade. Moreover, turning government into an engine of illicit profit encourages what economists call rent-seeking. Well-organized special interests usually triumph over the broader public and national interest.'

'The closer to commercialization, the more the expenditures are essentially corporate welfare. Alas, Uncle Sam has a hideous record of choosing winners and losers. Most often he chooses the politically influential, which can mean picking losers.'

'With the annual federal deficit again approaching $1 trillion, ending corporate welfare alone would not restore fiscal sanity in Washington. But it would be a good down payment.' ~ DOUG BANDOW | AUGUST 29, 2018

'Kentucky Senator Rand Paul released his annual report on government waste, Tuesday, outlining the “truly outlandish” waste in the federal budget.'

'The Kentucky Republican detailed $54,746,525,000 in waste in recent budget bills.'

“Remember this the next time they tell you there’s ‘nothing to cut,” the Senator tweeted on Wednesday.' ~ By Warner Todd Huston | December 24, 2020

'More than 50,000 scientists and doctors, as well as more than 682,000 ordinary people, have signed the Great Barrington Declaration opposing a second COVID-19 lockdown because they see it doing much more harm than good.'

'They permit big-box stores likes Walmart, Costco, and Sam’s Club to remain open. However, these stores sell items that are also sold in stores that were locked down such as Macy’s, J.C. Penney, J. Crew Group, Neiman Marcus, and Bed Bath & Beyond.'

'The lack of equal treatment caused many employees to lose their jobs, and many formerly financially healthy retailers have filed for bankruptcy.' ~ Walter E. Williams | published December 09, 2020

'The federal government spends a disproportionate amount of its budget for outside contractors in the final month of the fiscal year, as agencies rush to blow through cash before it's too late. Among the more noteworthy expenditures in 2018, according to the watchdog group Open the Books, was $4.6 million for lobster tail and crab.'

'In August, a bipartisan group of senators that included Kentucky Republican Rand Paul wrote letters to 13 federal agencies expressing their concerns about wasteful end-of-year spending. Their efforts appear to have failed.' ~ JOE SETYON | 3.8.2019

'At OpenTheBooks.com, we work hard to capture and post all disclosed spending at every level of government – federal, state, and local. We've successfully captured nearly 5 billion public expenditures, and we are rapidly growing our data in all 50 states down to the municipal level. We won't stop until we capture every dime taxed and spent by our government.'

''As a government watchdog organization, we accept no government funding.'

''OpenTheBooks.com is a project of American Transparency – a 501(c)3 nonprofit, nonpartisan charitable organization. All donations are tax deductible for federal or state income tax purposes to the fullest extent of the law.'

'Citizens Against Government Waste is a nonpartisan, nonprofit organization dedicated to eliminating waste, fraud, abuse, and mismanagement in government. For more than two decades, Porker of the Month is a dubious honor given to lawmakers and government officials who have shown a blatant disregard for the interests of taxpayers.' ~ Alexandra Abrams | December 9th, 2020

'Do you know where your tax dollars are going?' ~ Marissa Laliberte | Updated Jan. 05, 2020

WASTEFUL SPENDING LIST

'Learn about the federal budget deficit and national debt and how it all affects you and our future. Our resources include interactive tools and infographics.'

'The rising national debt threatens economic growth and opportunities for future generations. Learn more — and get involved.'