Chuck Schumer's three principles for fiscal stimulus

p_luk here...

my only problem with Schumer's statement is the pandering to the middle class. I mean, any economic stimulus package should be targeted to the lowest 60-70%, because the more you make, the less likely you are to spend any "stimulus" money.

I personally like the idea of a 6 month period when SS withholding is not withheld on incomes under, say, $70K/year (the trust still gets the money, but it is paid for out of general revenue -- we'd have to borrow money for any kind of "income tax rebate" anyway, and that becomes ridiculously complicated.)

"Mediasux," huh? I kinda like it.

And you're right, any package that focuses on income tax instead of payroll tax relief isn't going to do much for people at the bottom of the income scale. Although I imagine your SS plan would cause lots of wailing and fainting on Capitol Hill.

Hmmm... how about "$200 gift cards" that can be used for purchases at "participating retailers" -- retailers that agree to give the government a 15% break on items purchased using the cards?