Burr calls for sales tax holiday
April break offered as stimulus
WASHINGTON (The News & Observer) - U.S. Sen. Richard Burr wants a national sales tax holiday to goose the ailing economy -- figuring discount prices would do the nation's cash registers more good than rebate checks.
Reaction to his idea ranged from "crackpot" to it-ain't-gonna-work, as economists said sales tax holidays don't inspire consumer spending so much as change the date that shoppers are pulling out their wallets.
Burr said he welcomed the discussion. And the Senate's majority leader, Sen. Harry Reid, said Tuesday that he expects to see plenty of good ideas from both Democrats and Republicans on the best way to get more money flowing through the economy.
WASHINGTON (The News & Observer) - U.S. Sen. Richard Burr wants a national sales tax holiday to goose the ailing economy -- figuring discount prices would do the nation's cash registers more good than rebate checks.
Reaction to his idea ranged from "crackpot" to it-ain't-gonna-work, as economists said sales tax holidays don't inspire consumer spending so much as change the date that shoppers are pulling out their wallets.
Burr said he welcomed the discussion. And the Senate's majority leader, Sen. Harry Reid, said Tuesday that he expects to see plenty of good ideas from both Democrats and Republicans on the best way to get more money flowing through the economy.
posted by BP News Bureau | 11:55 AM
1 Comments:
From National Review Online:
Sen. Jon Kyl from Arizona is showing uncommon fiscal courage in his decision not to vote in favor of this goofy stimulus rebate package.
Mr. Kyl is a principled conservative man, taking a principled conservative position. Even though he’s the Senate Republican Whip — the #2 man in the caucus — he is going against the tide and standing up for supply-side principles. (Click here to read the transcript from our interview on last night’s Kudlow & Company.)
Mr. Kyl is also pushing to slash the corporate tax rate. In my view, this would be the single best pro-growth measure that Washington could take. Incidentally, John McCain (whom Kyl has endorsed) is also proposing to slash the corporate tax rate. This would lower the cost of capital and grow investment. It would help create healthy businesses, create jobs, and raise real wages. It also would boost the dollar.
The minute such a bill is signed — the very minute — the incentive effects would take place.
John Kyl is the strongest conservative thinker in the Senate. He is principled. He is unwavering.
Kudos to Kyl.
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