Highlights:
When libertarians question the merit of President Obama's stimulus package, a frequent rejoinder is, "Well, we have to do something." This is hardly a persuasive response. If the cure is worse than the disease, it is better to live with the disease.
In any case, libertarians do not argue for doing nothing; rather, they advocate eliminating or adjusting policies that are bad for the economy independent of the recession. Here is a stimulus package that libertarians can endorse:
- Repeal the Corporate Income Tax
- Increase Carbon Taxes While Lowering Marginal Tax Rates
- Moderate the Growth of Entitlements
- Eliminate Wasteful Spending
- Withdraw from Iraq and Afghanistan
- Limit Union Power
- Renew the U.S. Commitment to Free Trade
- Expand Legal Immigration
- Stop Bailing out Businesses that Took on Too Much Risk
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