Have to disagree w/ Mr. Buffet on the div. tax cut. I'm certainly not rich, by most standards, and I will save a bundle with tax-free dividends. I will no doubt 'stimulate the economy' with it too, by re-investing much of it, and spending the rest.
Good for you.
Stimulus? How about the deficits?
Anyhow, thanks for Dr. Yardeni's updated link.
===================
washingtonpost.com
Proponents of cutting tax rates on dividends argue that the move will stimulate the economy. A large amount of stimulus, of course, should already be on the way from the huge and growing deficit the government is now running. I have no strong views on whether more action on this front is warranted. But if it is, don't cut the taxes of people with huge portfolios of stocks held directly. (Small investors owning stock held through 401(k)s are already tax-favored.) Instead, give reductions to those who both need and will spend the money gained. Enact a Social Security tax "holiday" or give a flat-sum rebate to people with low incomes. Putting $1,000 in the pockets of 310,000 families with urgent needs is going to provide far more stimulus to the economy than putting the same $310 million in my pockets.
...............
ctj.org
ctj.org
TUESDAY, MAY 13, 2003
“The Finance Committee offers little in the way of economic stimulus this year, but will add even more to our already huge budget deficits in the future,” said Robert S. McIntyre, director of Citizens for Tax Justice. |
