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Politics : Formerly About Applied Materials

AMAT 261.90

+0.4%

Dec 26 9:30 AM EST

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To: michael97123 who wrote (48383)	6/23/2001 10:32:12 AM
From: Katherine Derbyshire	Read Replies (1) of 70976

The total US economy is a little over $9 trillion. The $40 billion tax rebate is about 0.4% of GDP. That doesn't sound terribly significant to me. Moreover, the $40 billion isn't "new" money that magically appeared. If it weren't for the rebate, it would still get spent, either on government programs or on retiring a portion of the national debt. I'm not an economist, but it doesn't seem to me that a rebate to taxpayers would be any more stimulative than building highway projects or reducing the federal government's share of the financial markets. The other question is whether the rebate will inspire individual consumers to spend more, or to redistribute the spending they already do. For example, will someone with a $600 rebate buy two computers for back to school, or simply use cash instead of credit to buy one computer? Katherine

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