Bush to annonce $600 Bn Tax Cut

[Az]

errm, I was talking Israel taxation, Lawrence. ( but yes, it will come into place fully in 2008, also . )

[Dinner]

Originally posted by Azazel our government has made a tax reform , under which savings and the SE would be taxed (they weren't, previously) , and the income tax from work would be reduced. Is it a good plan to stimulate growth and decrease poverty?

It will increase spending but it will decrease savings. a country in Isreali position should be encouraging saving since could need to capital due to an economic or military crisis (war or what not).

[MRT144]

lemmy, what about when SS crumbles and the middle class arent left with savings?

[Lawrence of Arabia]

Oh, sorry about that azazel. I forgot.

[Kropotkin]

Hey there Mr. Arabia, are you quoting me? I'm so proud after years of being ignored!

[Az]

Oerdin: elaborate. we seem to have enough foreign currency reserves, but I am not sure. Plus, the US government seems to give us gurantee of some 8 bil dollars, that could keep us from going to the B ratings.

[Dinner]

The problem with relying on a foreign power for economic security is that the foreigner might not always be there. What would happen if say a Europhile socialist became president? He might start to enact the anti-Israeli policies so many European leftist politicians have been asking for since the 1960s.

It seems institutionalizing anti-savings plan would provide a temporary boost to the economy but expose it to a long term risk once people's savings are exhausted.

[Az]

Sadly, money can move without any hindering in and out of the Israeli economy.

[chequita guevara]

Shrub wants to tie the unemployment extension with tax breaks to the rich. He says the other side is inciting class warfare while he's the f*ck*ng General Patton of class warfare.

[monkspider]

Well put Che, this is absolutely incredible.

[DinoDoc]

Re: Bush to annonce $600 Bn Tax Cut

Originally posted by Lawrence of Arabia
Yay! More money down the toilet.

I thought that you said that he was proposing a tax cut, not a tax increase.

[Lawrence of Arabia]

His tax cut IS money down the toilet because it won't stimulate anything.

[Dinner]

It will stimulate more millionairs to donate money to the Bush campaign. Which is the bottom line for people like Bush.

[chequita guevara]

I wonder how much it will actually do, since as I understand it, corporations very rarely pay out dividends these days, instead ploying the profits back into the company ... or rather, giving it to the CEO in the form of a retirement bonus.

[Ramo]

More deficit spending to implement tax cuts exclusively for the rich; color me suprised.