Advertising Agency Big Idea Solves Fiscal Stimulus, National Debt, Economic Woes And Big Deficit
Holmes Publications
April 21, 2009
www.bringbackthededuction.com
Proving that no challenge is too great, Austin & Williams a marketing, branding and website development agency based on Long Island, has set in motion a national grassroots "Bring Back the Deduction" campaign, seeking to bring back the personal tax deduction for credit card, auto loan and personal loan interest
"Bringing back the personal interest deduction subsidizes our spending, will help build consumer confidence and the spur the economy," explains Ken Greenberg, Austin & Williams President and CEO and the man behind the campaign. "The only way to grow our economy is to buy things: the more we buy, the more manufacturers produce. People fill the jobs needed for production tasks and also to sell us things. The economy, in turn, grows."
Prior to 1986, consumers were able to deduct interest on credit cards, auto loans and personal loans on their itemized income tax returns. According to Greenberg, Congress repealed the deduction in 1986 because they thought it worked too well: they felt Americans were spending too much money. "If it worked before, it can work again," he says. Why? Here, Greenberg addresses the most frequently asked questions regarding his proposal.
Will it cost too much?
Unlike the mega-billions Congress has sent to AIG, Wall Street and the Banks – money that leaves the U.S. Treasury instantly – this deduction costs NOTHING unless people actually use it. The money stays in the Treasury until next April, when you´ll either owe less tax or get a larger refund. It´s actually far more cost effective than the other proposals floating around Washington today.
But aren´t people already in over their heads?
Despite everything you read in the media, less than 17% of approved credit lines and credit cards are actually in use. Sure, there are many living paycheck to paycheck, but the vast majority of Americans has plenty of available credit.
Why now?
There´s no better time than now. This deduction can – and will – make a difference. What we need is the support of Congress. The current economic stimulus actions that they´re taking are not enough to get the job done; chances are America will end up with nothing to show but a massive Federal budget deficit and staggering National Debt.
Can we really help solve the problem?
Yes. And all it takes is ONE CLICK. Simply go to www.bringbackthededuction.org. Here, it´s easy to tell Washington you think bringing back the personal interest deduction will encourage consumer spending and is a good idea: there are three pre-written letters available from the home page. Simply click on "Get your Opinion to Congress" button, fill in your name and address, and the campaign automatically sends a letter to every one of your Senators and Congressional Representatives - no matter which State you live in.
www.bringbackthededuction.com
Proving that no challenge is too great, Austin & Williams a marketing, branding and website development agency based on Long Island, has set in motion a national grassroots "Bring Back the Deduction" campaign, seeking to bring back the personal tax deduction for credit card, auto loan and personal loan interest
"Bringing back the personal interest deduction subsidizes our spending, will help build consumer confidence and the spur the economy," explains Ken Greenberg, Austin & Williams President and CEO and the man behind the campaign. "The only way to grow our economy is to buy things: the more we buy, the more manufacturers produce. People fill the jobs needed for production tasks and also to sell us things. The economy, in turn, grows."
Prior to 1986, consumers were able to deduct interest on credit cards, auto loans and personal loans on their itemized income tax returns. According to Greenberg, Congress repealed the deduction in 1986 because they thought it worked too well: they felt Americans were spending too much money. "If it worked before, it can work again," he says. Why? Here, Greenberg addresses the most frequently asked questions regarding his proposal.
Will it cost too much?
Unlike the mega-billions Congress has sent to AIG, Wall Street and the Banks – money that leaves the U.S. Treasury instantly – this deduction costs NOTHING unless people actually use it. The money stays in the Treasury until next April, when you´ll either owe less tax or get a larger refund. It´s actually far more cost effective than the other proposals floating around Washington today.
But aren´t people already in over their heads?
Despite everything you read in the media, less than 17% of approved credit lines and credit cards are actually in use. Sure, there are many living paycheck to paycheck, but the vast majority of Americans has plenty of available credit.
Why now?
There´s no better time than now. This deduction can – and will – make a difference. What we need is the support of Congress. The current economic stimulus actions that they´re taking are not enough to get the job done; chances are America will end up with nothing to show but a massive Federal budget deficit and staggering National Debt.
Can we really help solve the problem?
Yes. And all it takes is ONE CLICK. Simply go to www.bringbackthededuction.org. Here, it´s easy to tell Washington you think bringing back the personal interest deduction will encourage consumer spending and is a good idea: there are three pre-written letters available from the home page. Simply click on "Get your Opinion to Congress" button, fill in your name and address, and the campaign automatically sends a letter to every one of your Senators and Congressional Representatives - no matter which State you live in.
www.bringbackthededuction.com
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