Occasionally, I read of a library here and there that is asking where their part of the massive stimulus package might be. Here’s a tidbit to keep in mind as we’re hearing about and talking about the stimulus:
In stimulus package language, if Congress taxes to hand out money, one person is stimulated at the expense of another, who pays the tax, who 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.
Walter E. Williams, professor of economics at George Mason University.