[A]nother good GDP rise in fourth quarter is likely, and there is nothing yet on the horizon to expect that the expansion will falter in 2004. It will be good for business and workers, but not good enough to give President Bush a gain in employment during the first term.
The quarter where households earning less than 100,000 got a 400 dollars per kid. (Families earning less than 20,000 got nothing, thanks DeLay.) Tax cuts for middle America works. We have had 8 quarters of tax cuts for Bush's rich friends and the economy barely showed a pulse in 4 of them. Now at a cost of 1% of all the other tax cuts, the economy has gotten some much needed stimulus.
The obvious lesson is let's get rid of the tax cuts for the rich which aren't working and have several more rounds of tax cuts for Americans earning less than 100,000 a year with kids. The kids part may seem gratuitous but the point is someone making 80,000 a year with no kids is probably already able to spend and save.
Tax cuts for the middle class and poor work and tax cuts for the rich don't.
Best New Blog finalist - 2003 Koufax Awards
A non-violent, counter-dominant, left-liberal, possibly charismatic, quasi anarcho-libertarian Quaker's take on politics, volleyball, and other esoterica.
Lo alecha ha-m'lacha ligmor, v'lo atah ben chorin l'hibateyl mimenah.