Tuesday, June 16, 2009

Who doesn't love a good stimulus, other than John Q. Taxpayer?

Two hundred million dollars to "create" 500 jobs. But what's $400K per job when we can all feel good about it? John Q. Taxpayer's feelings don't count, though.

Think about it. If this were a loan, then if each job generated $40K of economic activity annually, it would take only 10 years for this cockamamie idea to break even. Think of what the $200 million could do to create real work, not dream jobs for ultra-rich and their lackeys who use the power of government to redirect money their way. I have no problem with the mere fact of people amassing and keeping wealth, but I do have a problem with them forcing me into it (the force being the government spending). I never invested in this project and probably would never want to, and by definition, whatever is left of a "market" in this country also didn't want in.

The truly tragic part is what I've been pointing out, that all this "stimulus" spending isn't being funded by taxpayer dollars, or even by true borrowing of money that already exists. The Federal Reserve keeps creating new dollars out of thin air for the federal government to borrow. In the end, this spaceport will be paid for by everyone, the "inflation tax": the value of our dollars will decrease, but the ones mostly hurt are those of us who save for the future. Inflation has a lesser impact on those who spend their earnings quickly.

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