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 Can tax rebates save the economy?

 

President Bush is proposing tax rebates to stimulate the economy, how will this work?

The economy has been in a tailspin for the last several months and feas of a recession are forcing the government to take pro active measures to help. The newest plan to be discussed is a broad tax rebate of approximately 1% of the countries GDP (Gross Domestic Product) or approximately 150 billion dollars. This move is being proposed in hopes of putting more money back in the hands of consumers, who hopefully will spend the money and help spur economic growth. This is proposal would need full approval from both the Senate and the House, but both parties are favoring economic stimulus packages. Their is some concern that the money is certainly not all going to make its way back into the economy through spending. There is also dissension that this type of economic stimulus would not greatly affect the labor markets or housing industry, two large areas that have dragged down the economy. What is very apparent is that there is no one cure all of for today's economy.

 

1-19-2008 ? LoanNetwork.com

 

 

 

 

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