A politically incorrect way to help the economy
Entice the well-to-do to spend, spend spend!
While the incentive programs and continued government spending, might be helpful (although that is doubtful); it does not provide enough capital into the economy. It also causes those with money (small and large businesses and the wealthy) to limit their desire to spend. The government needs to eliminate the uncertain future tax and regulatory policy. Telling people it is their civic duty to spend won't get it done.
One way to get the economy moving at a respectable pace is more consumer spending is needed. Who better to provide that spending then the people that have money? If the goal is to reduce the inventory of unsold houses, let’s give people an incentive to buy a second or third home. Won’t they then buy furniture, pay real estate taxes, employ service workers and add money to the local economy? If the goal is to get people jobs, let’s get small businesses going again. Give incentives to buy boats, private planes and other products small businesses manufacture. Entice people with wealth to eat at restaurants and vacation in our country. Let people hold conferences at attractive US locations. The individuals that work in these industries would like to be stay employed. They might not care that it is the wealthy that buy the products they produce or the services they provide.
The economy needs any help it can get. Enticing those that have money to add capital to the economy might be a good place to look.
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