Forget Economic Stimulus, Fix the U.S. Tax Code

The President, and Congress have presented an emergency economic stimulus package consisting of temporary tax cuts. Will it be helpful? Will I be greatful for an extra $2000? Yes, but at what cost?
I was interested to find out what the authorities had to say (authorities as in American Enterprise Institute - the governments own thinktank.) about the proposed stimulus package in congress. We all know it is going to pass. Ken said, "this is an election year, of course it will pass!" So I looked at AEI, a very reliable information source - unlike the news. I read an artical by Kevin Hassett (Kevin A. Hassett is a senior fellow and director of economic policy studies at AEI). According to Hassett, "The end result (of the stimulus package) will be that we have a slightly smaller chance of having a recession."
He basically says that, if the goal is to avert a recession, this package may help a little, if the goal is to increase spending, it will, to a point.
Wealthy people will spend on average an extra 5 percent.
Poor people will spend 100 percent.
Businesses will spend an extra 5 percent as well.
Those numbers do not sound that great. Well, except for the lower class spending. If what you are looking for is spending, that is. Where does wisdom enter in?
I was pleased to see that Congress is looking into an education program to teach people about finances. Too bad government can't really teach.

Hassett said, "A broken tax code is an asset in bad times, because there are so many things to fix. Any number of reforms could help turn the economy around. By focusing only on temporary measures, the administration and Congress are overlooking our greatest asset, our lousy tax code.

So, I guess I wish congress would listen and focus on changing the tax code, because that would be a much longer term fix, according to Hassett. And I am a long term, big picture, person right?! Right.
I hope you find the article as educational as I did.
Tax cuts, hurrah!