U.S. stimulus money should go to advertising tax credit, columnist says

Everybody has ideas about how the U.S. stimulus money should be spent. Now it is being suggested that a tax credit be included for spending money on advertising.

Bob Pittman, former CEO of MTV Networks, Time Warner Enterprises and Century 21 Real Estate, has written an opinion piece in Fortune magazine saying that advertising is an investment in stimulating consumer demand.

Acknowledging that he has a deep self interest as an investor in advertising-supported businesses, Pittman says:

We can debate exactly how much consumer spending is healthy -- and the pros and cons of a consuming society. However, I think we can all agree that a meaningful resurgence in consumer spending is necessary right now to get us out of this economic hole -- and advertising would certainly have a stimulating effect.