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After hearing some Republicans talk about the need to extend Bush's tax cuts for the most wealthy 1% of Americans, I have a question about the economic stimulus package.
Bush's tax cuts for the most wealthy 1% of Americans have been in place since 2002. If these tax cuts are good for the long term growth of economy then why the heck are we need of an economic stimulus package?
Wednesday, February 13, 2008
Tax Cuts and the Stimulus Package
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2 comments:
I had that exact thought last night. I suppose the "bushie" response would be something like, "the uncertainity about the future of the tax cuts undermine their confidence" perhpas coupled with a line about "but for the tax cuts, the recession of 2001 would have been deeper."
Either way, however, I think it's objectively difficult to argue that the Bush tax cuts helped the econmoy, or that extending them would do much to touch the current recession.
The other common argument, which is related, is that the tax cuts weren't extensive enough.
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