If you’re married: $1200.00
For each child: $300.00
If you work but pay NO TAXES and make $3000.00, you get a $300.00 ‘rebate.’
IF YOU’RE A COUPLE AND MAKE OVER $170,000.00 NO REBATE.
Businesses will be able to get tax breaks for equipment investment.
Wall Street Journal Graphic
See that graphic from the Wall Street Journal? That shows productivity increases as shown by the Gross Domestic Product (GDP). See that big spike after 2003? That’s the Bush marginal tax decreases going into effect. Why not make those permanent? Obviously it’s not a panacea, but dropping money from planes seems a rather ineffective way to stimulate the economy.
From Investor’s Business Daily:
Some 116 million American families will get rebate checks of $600 to $1,200, along with an additional $300 per child. The 116 million families include 35 million that don’t pay taxes. So their “rebates” will really amount to one-time welfare payments.
We all like getting checks from the government. But as we’ve said, this scheme will only take money from some people and give it to others. Some of the money will be saved, some will go to pay down debt and some will be spent on imports. How is that “stimulus”?
Of the plan’s total $150 billion in cost, $50 billion will go to businesses. No, it’s not a “giveaway,” as some have styled it. Businesses will take their breaks and create new products, new jobs and more wealth for all Americans. In time, they will also pay more in taxes, not less. If it’s a giveaway, it’s to all Americans — not business.