From TIM BEE - Economic Stimulus Policy

October 31, 2008

Economic Stimulus Policy

Arizonans are still struggling. Our economy has been pushed to the brink by the housing and energy crisis and an ineffective Congress that procrastinated then acted irresponsibly.

Washington needs effective long term solutions to improve the economy. Short term stimulus programs that don’t focus on the main factors that drive our long-term growth won’t create jobs. Earlier this year, the incumbent supported the ineffective stimulus package. She also put political expediency ahead of real energy solutions. She then ignored her constituents and voted for the behemoth Wall Street bailout.

Now, the incumbent wants the federal government to borrow even more money. Her idea to stimulate the economy is for the federal government to borrow money to provide to the states. Borrowing money and throwing the burden on the backs of future generations is not the answer. Short term government spending programs don’t add funds to the economy; they simply transfer funds from one part of the economy to another.

The incumbent has touted her membership in the “blue dogs” (a fiscal responsible Democratic coalition of Congressmen). They strive to enforce the pay-as-you-go (pay-go) rules. Well, she now says that deficit spending is the way to get America out of the bad economy. Giffords must agree with Barney Franks that we need to throw out concern over deficit spending.

The “blue dogs” may have to ask her to return the membership card.

Her expensive mandates, like the union card check and higher taxes on business are the worst thing that could be done in these challenging economic times.

She wants to raise taxes, raise government spending and force expensive mandates on business in a bad economy? Is she serious?

Challenging economic times require the government to take responsible action. I have the knowledge of a small business owner and the experience of a tested lawmaker. These skills will facilitate solutions to improve the economy.

The best answers are those that focus on the long term and are not quick fix, short term band-aids. We need to unleash the American economy by implementing pro-growth policies.

Make the 2001 & 2003 tax cuts permanent.

Giffords has already voted to allow them to expire. That will cost each family in southern Arizona approximately $2000. The market is suffering now because the uncertain future of these tax hikes causes business to contract. Removing uncertainty will unleash market forces allowing for capital investment.

Implement accelerated depreciation

– it allows for firms to invest in capital equipment now, when tax benefits are greater than putting off major purchases for later. Let’s put an 18 month window in capital investment; business will rush to invest in their futures.

Lower corporate tax rates

– right now America has the second highest corporate tax rate in the world. Ignoring the fact that we live in a global economy and must compete for business will only further damage our economy. Let’s lower the tax burden, keep our businesses here and attract business from throughout the world to locate in America.

Temporarily suspend the capital gains and dividend taxes – spurring further investment in the markets.

Suspend the rules forcing those that reach 70.5 years of age to cash in their 401k and IRA’s; sparing seniors from being forced to sell their investments in a down market.

Loosen the tax implications on those receiving social security. Seniors are valuable members of our communities. Let’s not punish them for continuing to contribute to American productivity. Let’s allow seniors to take jobs, maintaining an important role in our economy. Right now, social security rules force seniors to live on limited fixed incomes and punish them for taking jobs and being productive in the community.

Lower tax rates on small business. Small business drives the American economy – let’s not punish them. Their success is a key to job growth.

Let’s access our own energy resources –We need to get our economy going by accessing our own resources instead of sending $700 billion out of our economy. We need to unleash American ingenuity to solve our energy crisis and to create our next great economic boom.

We live in a global economy – due to no coherent policy, we’re
sending mixed signals throughout the global markets. We also must compete in that same competitive global economy. We must improve the conditions in America to keep us the leader of the free world.

Work force – America faces economic challenges from India, China and others throughout the world. The workforces of other nations are built on strong educational systems. We must focus our efforts on becoming the leader in education again.
Improve education – our math, science and arts education must improve; fostering creativity. Innovation stems from Americans that think independently and have a sense of entrepreneurship.

Incentivize the educational system – those areas that need more attention, like engineering, science, medicine, vocational training and teaching must be rewarded. Low interest student loans, grants, better rates and terms should be made available. Let’s also allow college and vocational tuition (and expenses) to be tax deductible for the students after graduation or their parents during schooling. Effective education will bolster our workforce.

Invest in research and development to keep America at the forefront of the global economy.

I have received the endorsements of the U.S. Chamber and the Tucson Metropolitan Chamber while my opponent has received failing marks. In 2007, the incumbent Giffords received a D (61%) score with the US Chamber of Commerce.

My opponent has been wrong on the major issues of the day. On economic issues, her track record and her agenda are dangerous. Her plans will stifle economic growth and force further dependency on
the government. We need to look forward and take appropriate action, grow our economy, invest in education, and invest in research and
development.

American ingenuity and innovation will bring our next great economic boom.

Tim Bee

Tim Bee for Congress P.O. Box 31985 Tucson AZ 85751

Paid for by Tim Bee for Congress
www.timbee.com