The argument that the solution to our stagnant economy would be monetary assistance to the middle and lower classes, thereby increasing consumption and spurring the economy, convinces me. Of course, I belong to one of those classes.
Economists and politicians tell us that an economy must grow if it is to survive. However, the logic of it leaves me uneasy. If an expanding economy requires increasing consumption, then continuously expanding consumption is required for a healthy economy. Is it possible to devise a successful economic system that is not dependent on ever-growing consumption of our planet's finite resources until there is nothing left?
I think we should be honest about what will happen to the money saved by eliminating the dividend tax. The large majority will be used to buy the Treasury bonds the federal government will have to issue to cover the budget deficit.