Re: The Stimulus Package
Back to the stimulus package, probably the biggest and most obvious mistake is the complete lack of any incentives for investment. Our stock market is down almost 50% and from what I've read there were ZERO credits or tax cuts for capital gains or anything else that would spur investment. We can see the effects of this ommission in how the market has reacted, IMO
Also, most the tax "cuts" appear to be credits based on specific qualifiers, which is a big mistake, IMO. Just let EVERYONE share in the relief, not just those with childen or kids in college. I may be wrong, but from what I understand tax credit monies are realized during the refund process making then work more like the useless stimulus checks we got last year. Tax CUTS would have put more money in the pockets of everyone on a regular basis, which makes them less "found money" and more of a manageable boost. Not only that, but I believe tax credits are a trick the government plays on you to give the impression that it's THEIR money, not YOURS. To me refundable tax credits are the equivalent and getting a Christmas present, then rewrapping it and giving back to the person who gave it to you with the thought they'll never notice.
I may be wrong on this, though, as the recovery website was VERY vague about pretty much everything.
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Last edited by Professor S : 02-18-2009 at 11:15 AM.
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