I really wish The Times would stop publishing Star Parker’s propaganda veiled as “opinion.”
Stimulus spending and “bigger government providing more services” is a false equivalency. A basic understanding of national monetary policy and a bit of research is all that is necessary to cut through Ms. Parker’s drivel.
PPP loans were not the problem. It is how they were poorly managed by lenders, the SBA and Treasury officials that led to large corporations receiving billions in funds intended for small businesses, according to a Sept. 2 article in Credit Union Times. More importantly, the purpose of the funds was to allow small businesses to keep their employees and still be able to invest in adaptations to deal with the pandemic and not be forced to close.
There is also no evidence that the $600 stimulus checks reduced job seeking, according to an Aug. 4 column in Forbes.
I’m frankly embarrassed for her citing Casey Mulligan, who opposes paid sick days and told the NYT that shutting down economic activity to slow the virus would be more damaging than doing nothing at all, according to an April 8 piece in MIT Technology Review. And there is little correlation between deregulation and tax cuts enacted by the Trump administration and “the highest incomes and lowest poverty rate we have ever recorded.”
However, Americans find themselves in more dire straits when it comes to health care, housing, student loan debt, social safety net assistance, employee rights and benefits from taxes and trade, according to a Nov. 7, 2019, article in Fast Company.
Taxes are the income of the government; cutting taxes combined with irresponsible spending is what creates deficits. Taxpayers aren’t “footing the bill”! Investors and lenders are, and they will likely pay the price in much lower returns.
Luckily investors both domestic and foreign so far have had confidence in the U.S. economy because it remains the world’s largest, most productive and most resilient. They also trust U.S. public institutions. It’s not about giveaways. It’s about trust. Trust in the American people and trust in our government.
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