Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: smolejv@gmx.net who wrote (32768)	5/1/2003 3:14:47 AM
From: EL KABONG!!!	Read Replies (1) of 74559

DJ, A fairly good analogy... My own personal opinion is that the tax cuts are unnecessary and will ultimately prove to be counterproductive to an economic recovery, or at a minimum prolong the length of time it takes to get there. I don't think that tax cuts for the middle income folks up through the higher income folks will produce any significant additional consumer spending, which is (IMO) the great fallacy of the argument(s) used to support the tax cut. Most folks will either save the money, or pay down existing debt. Only at the very lowest income levels would the vast majority of the realized tax savings be spent. I would rather that the government clean up its own balance sheet as opposed to "gifting" its taxpayers where there's no guarantees of any optimal or desired results forthcoming. But, that's just my opinion, and not a very popular one at that... KJC

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