Bush Tax Cut Proposal
American tax-payers who are struggling to make ends meet will be happy at the news of a new tax cut proposed by President Bush.
It's a broad based cut intended to spur the economy. By giving consumers more cash in their pocket, the hope is they'll spend more. This will have a chain reaction as it makes its way through one layer of the economy after the other.
Will it work? Time will tell. But any form of financial relief is a godsend to the struggling middle class.
Details of the cut are still up in the air, so we're not sure how much or when it will go out. But lawmakers want to see it go out as soon as possible, with amounts estimated at $800 for single taxpayers and $1600 for married couples.
More info...
It's a broad based cut intended to spur the economy. By giving consumers more cash in their pocket, the hope is they'll spend more. This will have a chain reaction as it makes its way through one layer of the economy after the other.
Will it work? Time will tell. But any form of financial relief is a godsend to the struggling middle class.
Details of the cut are still up in the air, so we're not sure how much or when it will go out. But lawmakers want to see it go out as soon as possible, with amounts estimated at $800 for single taxpayers and $1600 for married couples.
More info...
posted by Mike Collins at 5:29 PM
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