The rest of us: When is the bailout coming for families, other businesses?
Struggling banks -- check.
Failing automakers -- check.
The mortgage industry -- in process.
Now that the first three items are done-- or almost done -- on the economic recovery list, it is time to think about a few other forgotten needy, worthy beneficiaries.
The rest of the business world and the taxpayers.
The recent news about the economic bailout gives the very distinct impression that the big companies, the large banks are the only ones we need to worry about.
And that couldn't be further from the truth -- just look around.
There are many, many businesses struggling to weather the economic downturn and to hang on long enough to keep employees working and their doors open.
They could use a bailout of their own.
The answer is simple really -- and it is the same one that should be offered to every American family also trying to make ends meet and to pay bills.
It's a tax cut.
Cutting corporate income tax rates would give businesses the chance to stay open, expand if necessary and to put some capital back into their operations.
And that could mean more business for companies that do business with businesses.
More corporate spending, as well as more people keeping their jobs, would mean more people able to spend more money -- and that would mean a healthier economy.
It is a cycle of sorts.
And in the meantime, while the rest of the country seems to get that there are more people who need help and that there is a need to act now, Congress is busy arguing about everything from the auto bailout to whether Caroline Kennedy should be a senator for New York and making no sort of serious decision about anything.
And, as if that weren't enough, the big media is running photos of a shirtless President-elect Barack Obama on his vacation in Hawaii. Really, who cares?
The way to create a healthy economy is to get consumers spending and businesses growing. We aren't going to do that with a whole lot of mouth music from those who are supposed to be in charge of fixing this crisis. We need big ideas, new courage and someone with a little closer touch on reality.
Hopefully, soon, someone will step up to put the bailout where it is really needed -- in taxpayers' pockets.
Published in Editorials on December 23, 2008 11:00 AM