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Why Tax Cuts Won’t Stimulate the Economy
September 15th, 2010 by Sam

To all the worshipers kneeling to the altar of tax cuts

This means that any tax cuts for new investment may hardly be used. Businesses aren’t suddenly going to invest more money, when they are more concerned about their own balance sheets and those of potential consumers of their goods. And even if they do, their spending is liable to be more of a “cash for clunkers” scenario than something that can help the real economy.

The same goes for any proposed maintenance of the Bush Tax cuts, which would just be pocketed or used to pay down debts on underwater mortgages by consumers. And, in some cases, those who may even be in good financial shape may elect to save money as their confidence is so low in the future of the economy.


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