The package also extends unemployment insurance and some other low-income tax credits and all those policies will help ease the impact of a weak economy. This should boost consumer spending as the rich who are more likely to spend it will have the money in their pockets. However, these cuts are believed to be most beneficial only to the wealthy Americans. This will add to the deficit and could end up hurting the economy more unless these wealthy Americans use this as an opportunity to invest in the economy, help boost consumption and create more jobs.
The package also extends unemployment insurance and some other low-income tax credits and all those policies will help ease the impact of a weak economy. This should boost consumer spending as the rich who are more likely to spend it will have the money in their pockets.
ReplyDeleteHowever, these cuts are believed to be most beneficial only to the wealthy Americans. This will add to the deficit and could end up hurting the economy more unless these wealthy Americans use this as an opportunity to invest in the economy, help boost consumption and create more jobs.