Professor Elam

Everyone is jumping on the economic stimulus bandwagon. The Wall Street Journal weighs in with its suggestion.

First does the ecnomy need a ‘stimulus’ from Washington DC?

Next, if so ,what kind?  A one time check, a reduction in tax rates, some sort of tax credit for buying a ‘green car,’ what?  Don’t laugh, in the wake of the 1981 gasoline crisis, congress passed a tax credit package that included income tax credits for buying ceiling fans. Soon there were stores in strip centers specializing in celing fans.  Now ceiling fans, as they were one hundred years ago, are stock items in even new homes.

Accountants rarely speak up on policy matters which I think is a mistake.  What say you?  This editorial should be read in conjunction with the Barney Frank article in the previous post.