House Speaker Nancy Pelosi and Fed chief Ben Bernanke met Monday to discuss how Congress might act to stimulate the slowing economy. (PHOTO CREDIT: GETTY IMAGES)
FROM CNN's Jack Cafferty:
President Bush has some pretty big problems to contend with when it comes to the economy... The unraveling of the housing market, the so-called mortgage meltdown, sky-high oil and gasoline prices and growing concerns about rising unemployment and inflation.
Economists at Goldman Sachs, Merrill Lynch nd Morgan Stanley have all said the economy is likely slipping into a recession.
Most Americans think it already has.
Now suddenly everyone in washington is talking about various stimulus plans to turn the economy around.
The problem is the same partisanship that has kept much of anything else from getting done is going to make this more difficult as well.
The president and the republicans will likely lean toward tax rebate programs and business investment incentives while the democrats will push to restore a tax credit for lower income families.
House Speaker Nancy Pelosi met with Federal Reserve Chairman Ben Bernanke yesterday to discuss some options.
She is hopeful both parties can work together.
One measure both sides seem to agree on is a one-time $500 tax rebate for every household in the U.S. to be spent by midyear.
So here's the question:What would you include in an economic stimulus package to help the economy?
Here’s my question to you: What would you include in an economic stimulus package to help the economy?
Interested to know which ones made it on air?
Bernard from Binghamton, New York writes:
The main thing I would do to improve the economy is kick all of the lobbyists out of Washington. Their activities cost us, the people, billions of dollars every year. I would also consider introducing a graduated "flat tax" that would get most of the money from those who can afford it, the very rich who have consistently gotten tax cuts during the Bush administration.
If these dolts think they can afford to give me $500 and appease me, they've got another thing coming. If there's one thing I despise it's having my hard-earned money taken from me and then handed back to me like I'm on an allowance. Then the clowns in DC act like they're giving me a gift.
Maureen from Tewksbury, Mass. writes:
That's a no-brainer, Jack. Repeal the Bush tax cuts to the wealthiest Americans. Take away tax loopholes and “gimmes” for big business. Reward companies that don't hire illegals or offshore jobs, but rather hire U.S. citizens to work in the U.S. Of course, until you and Lou Dobbs are running the show in D.C., I won't hold my breath waiting for any of this to happen.
We could solve all our economic woes by nationalizing our oil industry. Energy prices would drop by half, and the windfall for the government would pay off the national debt in a few years.
Dave from Brooklyn, New York writes:
First I would tax the crap out of those corporations that have been given huge tax breaks in the last seven years along with the wealthy who have gotten a free ride on the backs of the middle class. Then I would turn all the tax advantages of offshore corporations' into tax liabilities. After the oil companies, the wealthy and the multinationals begin to pay their fair share we can go on from there. But my guess is that we'd be able to get taxes on the beleaguered middle class more in line with their ability to pay. $500? Wait a minute, let me call my Lexus dealer and reserve my new car. Wow.
Wanda from Arlee, Montana writes:
Jack, no economic stimulus package would be complete without a stipulation to impeach Bush and Cheney. The boost in champagne sales alone should bring us right out of this slump we're in. The boost to our morale would doubtlessly cause us to go on spending sprees for all manner of goods.