The stimulus checks were a patent dollar-diluting waste of time. Increasing your budget deficit by cutting taxes will further devalue the dollar. In an economy so heavily reliant on imports and whose elite are so deeply entrenched in the economies of developing nations that's probably not wise. It may prompt further flight of capital to more bang-for-buck nations. One would have to simultaneously majorly reduce public spending, which in a country with major SS and medicare problems is also probably not viable (not to mention the fact that decreased public spending will also be a deflationary downward pressure on the domestic economy).Harmor wrote:
Can anyone agree with me on this point: If the government were to say tomorrow that they are lowering taxes wouldn't that immediately increase the likelyhood someone will feel better about their economic outlook and start spending? If we have those Stimulus Checks as an example people were spending them before they had them. For two months we had pretty good numbers...now how to sustain that without having the government send $600 stimulus checks every other month?
Last edited by CameronPoe (2008-12-25 04:26:06)