How can we really rev up the economy with the rest of that bailout money? A two-month complete federal tax holiday

http://www.gohmert.house.gov/Article.aspx?NewsID=1355

Texas Representative Louie Gohmert has proposed legislation in which American workers will pay no federal personal income tax or FICA withholdings for January and February. According to Rep. Gohmert, this is a way to take the remaining $350 billion of the bailout package and put it in the hands of consumers.

I love the idea, and I am not the only one. This proposal is gaining support. Newt Gingrich, Congressman Mike Pence and recently a small business advocacy group, the National Federation of Independent Businesses have endorsed it.

Will this proposal get anywhere? Well, it seems like a great idea that would actually work, so probably not, but it will be interesting to see what happens.

Reuters: Obama may delay "tax-cut rollback" for wealthy

http://www.reuters.com/article/wtMostRead/idUSTRE4AM1F120081123

The headline of this article is hilariously full of Obamaspin. Does this guy write those cheesy late-night infomercials? "It's not a tax hike -- it's a tax-cut rollback for the wealthy! And if you act now, we'll throw in 2 years of universal citizenship corps service!"

The body of the article shows a little indication that the President-elect may be listening to some of his more supply side advisers. He's not exactly becoming Adam Smith, but at least he not trying to tax his way out of these economic doldrums--for now. Let's keep our fingers crossed.

Do American automakers deserve to be bailed out? Before you answer, read this

Warning: may cause rational and logical thought contrary to the Washington herd mentality.

http://wsjclassroom.com/archive/06may/auto2_jobsbank.htm

Seems to me, throwing billions of dollars in bailout money to the automakers in their current state would be like shoveling sand into a bottomless pit.