The fastest and simplest way to stimulate the economy is to cut permanently all existing corporate income tax rates by 80% and reduce payroll tax rates by 50%. for 2009 and phase back in the payroll tax cut by 10% per year until 2014.
This cost to Federal budget of one trillion can be offset by all the waste and pork barrel programs that seep into the budget by our power hungry legislators who can not say “no” to the lobbyist. On the other hand a President who is true to his word might actually veto these spending bills.
If the first four lines were enacted into law the reduction in federal tax collections would be about 250 billion. However, think what this would do to the price earnings ratio thus over all stock market and the 40ik's that dems lament over: Not to mention the rise in employment!