SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Formerly About Advanced Micro Devices
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: TimF who wrote (170992)6/11/2003 1:22:06 AM
From: tejek  Read Replies (2) of 1583493
 
When Congress passed a $350 billion tax cut last month, lawmakers left a lot of low-wage families out of being eligible for a tax credit they expanded to $1,000 per child from $600.

Because they don't pay federal income taxes. If you want to give them welfare they should call the bill a welfare bill instead of a tax cut.

I thought the intent of the tax cuts was to stimulate the economy. As the theory goes, the more people have to spend, the more they will spend it on consumer products. How does the above interfere with that theory?

However, that was not the main point of the article. The GOP knows that Dems. and moderate Reps. were upset that that the above provision was left out of the last tax cut legislation. So the hard line Reps. are saying if you want it, then you have to agree to even more tax cuts beyond the ones already passed. Its really a cut throat, in your face kind of approach to compromising that the Reps. are always claiming are typical of Dem. If true, now we know where the Dems. learned them.

In the meantime, the Office of Mgmt and Budget has projected that this year's deficit estimate has increased from $300 billion to $400 billion thanks to the latest tax cut passed in May.

ted
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News