Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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 : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Lazarus_Long who wrote (167180)	8/2/2001 4:25:22 PM
From: Feraldo	Read Replies (4) \| Respond to of 769667

These 36% are the reason why the tax rebate isn't really going to help the economy as much as Bush wants it to. For one, $300 or $600 is not that much money. Secondly, 36% of wage earners don't pay federal taxes. Third, anyone who can be claimed as a dependant did not get anything back and these are the teenagers and college students who are most likely to spend it all. Then about 20% of the people that get the check make so much a year that $300 isn't really going to encourage them to go out and spend. Then there's the percentage that is just going to pay down debt. Even if we had 100 billion going back to consumers and being spent (far cry from that) it would add at most 1% to the GDP for the year. The tax rebate was just a political ploy in hopes that the economy would grow and Bush could say he was the economic savior. I am a Bush fan on most things, but the fact that he tried to push the cut as a saving device for the economy didn't earn him any points in my book.