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Are the tax cuts recently passed by Congress going to have a positive or negative effect on the economy, or no effect at all?

Item added by Redoedo. Added on 09/04/2003
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9 Reviews

EschewObfuscat ion
02/24/2005

Are the tax cuts recently passed by Congress going to have a positive or negative effect on the economy, or no effect at all? 3

Anyone who disagrees with the tax cuts always has the option of paying their fair share on their own. Pick the level of taxation you think is fair and appropriate and pay it. It's called putting your money where your mouth is. If you say, Wow, I didn't need this tax cut, I'd say to you then don't take it! Give it back. Nobody will stop you from paying what you think is fair, will they? But, to lower your taxes to the lowest possible level, when you think it's too low and morally wrong, that's hypocritical. If all the liberals paid what they think is a fair level of taxation, regardless of the tax law, the deficit would disappear. Oh, you want others to pay more. I see. You're not required to lead and set an example.

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Jar-Jar Binks
02/24/2005

Are the tax cuts recently passed by Congress going to have a positive or negative effect on the economy, or no effect at all? 5

I may be an upper-middle class citizen, but I don't want the tax breaks and I certainly don't need the extra cash. ... The economy is much more important than the tax breaks I'm receiving, so YES the tax cuts passed by the GOP Congress has had a negative impact on our economy.

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louiethe20th
02/20/2005

Are the tax cuts recently passed by Congress going to have a positive or negative effect on the economy, or no effect at all? 5

How can it have a negative impact on the economy?If I have more money in my pocket I am going to be more likely to buy a car,a house,a boat,invest in the stock market,put more money in the bank,buy products from the small business down the street.Everyone would prosper from the citizen having and spending more money.

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JonTheMan
11/13/2003

Are the tax cuts recently passed by Congress going to have a positive or negative effect on the economy, or no effect at all? 2

No, no, no, NO! Supply side economics does not work except in very special conditions. Take reaganomics for example, after Reagan had finished with his ancient economic model the bottom 60% of americans (yes, Hayekians that means MOST americans) had on average 1000$ less in wages than in 1977! Look at Japan! 1 trillion dollars worth in low interest accounts as the rich are afraid to invest. There isn't enough demand! I would like the government to cut taxes on the poor (as they need to spend it) but Bush's tax cuts are ONLY benefiting the top 1% of Americas households. Shouldn't a flourishing economy be characterized by lower unemployment, more wealth and less poverty (rather then the exact opposite which is apparently a thriving economy to supply-siders)?

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kolby1973
10/12/2003

Are the tax cuts recently passed by Congress going to have a positive or negative effect on the economy, or no effect at all? 3

Sure they will help, but it would be really cool if he would give tax breaks to not only people with kids ! I thought it was the biggest bunch of crap that my friends with kids got a tax relief check this year, but my single friends and myself didn't get a damn thing. What? We don't work? Totally ridiculous !

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RebelYell1861
10/11/2003

Are the tax cuts recently passed by Congress going to have a positive or negative effect on the economy, or no effect at all? 4

Of course. Government interference of most any kind (such as tax increases, etc.) indirectly take funds out of the private sector, hurting the economy. So yeah, tax cuts are always beneficial.

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hendo
09/19/2003

Are the tax cuts recently passed by Congress going to have a positive or negative effect on the economy, or no effect at all? 2

I highly doubt it. It isn't necessarily a given that people who get the tax cuts will spend it or invest it. The only true cure to our economic woes is job creation. I would have liked to have seen tax breaks to companies that hire a certain number of new workers each quarter instead.

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BIGBABY
09/13/2003

Are the tax cuts recently passed by Congress going to have a positive or negative effect on the economy, or no effect at all? 5

Of course they are. More money in people's pockets helps, no matter how large or small. People buy products with money, which helps the economy. The economy is already doing much better.

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President -X-D
09/09/2003

Are the tax cuts recently passed by Congress going to have a positive or negative effect on the economy, or no effect at all? 3

Any tax cut helps the economy, as it allows more money to remain in the private sector and be used as investments. Bush's plan will work, but the economy will remain sluggish. The reason for this is because of the Enron and Worldcom scandals etc. As a result of those scandals, Congress and Bush passed new harsh regulations for companies when it comes to disclosing to the fed their economic plans. Company X is now required to be ready to submit to a severe audit at the whim of the gov whenever Company X decides to make any large new investment, merger, etc. This is in addition to laws already in place. This means that honest companies are being punished for the actions of a few, and it slows down the economy in all phases. How these new regs are going to act as a deterrent against crime escapes me; the ciminals out there will cook their books no matter WHAT the laws are, while the honest people have to do business with an increased sense of paranoia. The result? Slower growth. Enron and Worldcom could have and should have been prosecuted fully without new laws being passed, but the fervor was such that it was politically necessary to pass new legislation that serves to punish ALL businesses, innocent businessmen included. So, cutting taxes is great, but the results will be less than what they normally would be.

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3.09
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