Don’t Worry Julio!
Julio works at Mickey D’s and has for the last 4 years. President Obama tells him not to worry, that upcoming legislation is going to cover him up with money he didn’t earn (“refundable tax credits”) and help pay for his college too!
Watch this performance – on both sides:
Maybe that car and mortgage payment aren’t such a wild thought after all.
But as Walter Williams reminds us:
“In stimulus package language, if Congress taxes to hand out money, one person is stimulated at the expense of another, who pays the tax and is unstimulated. A visual representation of the stimulus package is: Imagine you see a person at work taking buckets of water from the deep end of a swimming pool and dumping them into the shallow end in an attempt to make it deeper. You would deem him stupid. That scenario is equivalent to what Congress and the new President proposes for the economy.”
Welcome to the deep end. You’re going to be putting Julio through college. Do you think he’ll even send you a thank you note?