I Oppose the Economic Stimulus Plan
I received an email today encouraging me to voice my opinion about the proposed economic stimulus plan. Although I do expect the plan to pass, I agree that it helps to voice opposition. Just as I opposed the boondoggle that was once called “The Bailout”, I want to be totally clear that I am firmly opposed to the idea and the implementation of the current economic stimulus plan.
I recognize that the free market suffers from market failures, and as such I am generally in favor of well-crafted Pigovian taxes. However, it never makes sense to send gobs of someone else’s money towards politically-chosen goals. This always leads to bad situations, as we have seen with the bailout money, and as we will soon see with the stimulus money. Mark my words.