PrintDecember 13, 2010
Merry Stimulus, From Randy
For Christmas this year I decided to give you all a $4 trillion stimulus. Actually, since we measure in 10-year increments nowadays, I'm really giving you a $40 trillion stimulus. I hope you like it.
For a while I was thinking of taking almost all of the taxable income that is not already taxed by the federal government. In 2008, you taxpayers had $5.7 trillion in taxable income and paid $1.1 trillion to the federal government, leaving you with $4.6 trillion. I was thinking of taking most of that - about $4 trillion.
But, since it's Christmas, I changed my mind. I'm going to let you keep it. Therefore, I stimulated the economy to the tune of $40 trillion.
To some of you, that might sound nuts. How is letting you keep your money a "stimulus," you might wonder. Because that is the way it works with government. If they don't raise tax rates, that is a stimulus. That's what Charles Krauthammer said and it's what The New York Times said. So it must be true.
As they say, giving is so much better than getting. I now feel so good for giving you $40 trillion.
Imagine if each of us did that. By my calculations, the 300 million of us could stimulate each other to the tune of $12,000,000,000,000,000,000,000. (That is over ten years, of course). I think even the Federal Reserve would have trouble coming up with that kind of money.
God stimulate us, every one.
(Next year I'm thinking of giving the other kind of stimulus for Christmas presents. The kind were I consume a $trillion worth of real things that others produced, and then pay for it with notes I printed up.)
