Thursday, February 26

An English Point of View on the American Stimulus Package

A second letter in a series from a writer in England.

Stimulus Bill

We are all facing the same dark turbulent ties as nations, mainly due to greedy individuals that got fat on millions and now watch as those who have really worked hard lose there jobs take pay cuts and suffer.

I am impressed at the measure of this bill there are some similarities in approach
but Obama’s goes further.

Here in the UK we have had the VAT (Value added tax) Cut from 17.5% to 15%, all that has done has cut money going to the government, just because it gives me another 15 pence off of an item it does not persuade me to spend more money.

What Obama is doing is taking a different direction by giving families more money by a tax cut in wages you create extra money. Now if you have extra money you spend it, thus it goes back into the economy. The same with the boost in jobs, people make money, people spend, spending creates employment and so on.

We are currently left with a Prime Minister who has become the fall guy, for years this situation has been building and neither previous leaders would address it because it would have put a down turn on things, now in hind sight it would have been the right thing to do, but they chose to ride the good times knowing the next leader will have to be the one who faces the fight and will be the bad guy if they don’t get it right.

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