A Guide for RI
Jonah Goldberg summarizes for the nation the frame of mind that Rhode Island should take in these tough economic times:
… rather than blow money on a lavish reenactment of the New Deal, or continue bailing out undeserving corporations, why not really think outside the box? Rep. Louie Gohmert (R., Texas) suggests an across-the-board reprieve on paying 2008 income taxes. This would leave an extra $1.2 trillion in the hands of Americans, who are the best stewards of their own money. Nobel Prize-winning economist Robert Mundell proposes a one-year moratorium on corporate income taxes in order to stimulate investment, job creation and the like. That wouldn’t be as popular, for understandable reasons.
The details can be negotiated, but this sort of approach would certainly create more jobs and spur more consumer demand than paying for a lot of asphalt. It would buy a lot more prosperity than any corporate bailout.
Let people who earn money keep their money, because it’s a safe bet that they’re earning it for a reason, in two senses: They have a reason for their actions, and there’s a reason their actions prove profitable.