Maybe it's just me, but the economy has definitely hit nearly center stage in politics. With the tumultuous stock market, the housing bubble pop, and US cutting interest rates, the future US economy is looking pretty hazy.
But who's going to save the day? According to some economists, mostly Democrats, it's the middle and lower class. Federal Reserve Chair Ben Bernanke testifies that a successful plan would be to give to those who need the money so that they will immediately spend it.
This makes sense. For those who are well off, receiving a few extra dollars probably won't tip their spending budgets. But for those who aren't so well of, it may well just be a whole different story. The Senate Finance committee today discussed raising the amount given to individual tax payers to $500 while reducing the amount given to higher income tax payers by $100.
Moody's Economy.com found that "for each $1 in 'accelerated depreciation' resulted in just 27 cents of increased economic activity". Good new for the economy! Good news for mid & lower classes, and good news for the economy!
But who's going to save the day? According to some economists, mostly Democrats, it's the middle and lower class. Federal Reserve Chair Ben Bernanke testifies that a successful plan would be to give to those who need the money so that they will immediately spend it.
This makes sense. For those who are well off, receiving a few extra dollars probably won't tip their spending budgets. But for those who aren't so well of, it may well just be a whole different story. The Senate Finance committee today discussed raising the amount given to individual tax payers to $500 while reducing the amount given to higher income tax payers by $100.
Moody's Economy.com found that "for each $1 in 'accelerated depreciation' resulted in just 27 cents of increased economic activity". Good new for the economy! Good news for mid & lower classes, and good news for the economy!
No comments:
Post a Comment