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cellpadding="5" cellspacing="5"> <tr> <td height="1414" align="left" valign="top"> <p align="center"><font color="#000000" size="4"> <font color="#FF0000" size="5"><strong>Will Bush’s Tax Rebate Plan Really Save Our Economy?</strong></font></font></p> <p><font color="#000000" size="4"> The Bush Administration is supporting a $150 billion emergency tax rebate in an attempt to reverse the rapidly declining economic situation in America. Details are still sketchy, but the plan would reportedly give single taxpayers earning under $75 thousand per year $600 to spend, in any way they wish, in hopes that this would halt this country’s rush to a recession. Single filers making up to $87 thousand would receive a partial rebate.</font></p> <p><font color="#000000" size="4"> Married couples making less than $150 thousand per year would receive $1,200. Families with children would receive an extra $300 per child. Married couples earning over $174 thousand will not receive any payments. The rebates would be based on a taxpayer's adjusted gross income and will not consider IRA contributions, 401(k) retirement or health savings accounts. Most recipients would get a check in May, 2008, at the earliest.</font></p> <p><font color="#000000" size="4"> Few economists believe the stimulus plan alone will avoid a recession. This situation is the result of the greed and corruption in today’s business community and the rampant incompetence in our current government. Outsourcing jobs overseas severely curtailed the middle and lower classes’ incomes. Federal Reserve interest hikes were responsible for the crash of the housing market, which is a major cause of the recession.</font></p> <p><font color="#000000" size="4"> <a name="jump"></a>Many of the products sold in the United States are manufactured overseas, which won’t benefit the American economy. And many Americans are so deeply in debt they may use the money to pay off bills rather than to buy new goods and services. Which won’t be of much help, either. </font></p> <p><font color="#000000" size="4"> About 70 percent of the American economy depends upon consumer spending. Bush’s policies, which benefit the rich instead of the middle and lower classes, have heavily influenced the economic downturn. </font></p> <p><font color="#000000" size="4"> The Trickle Down theory the Republicans have imposed on the American economy since the Reagan regime is a hopeless failure unless, of course, you’re one of the top two percent of the wealthiest people on the planet benefiting from it. The economy needs massive numbers of customers to succeed. Making the rich richer does not work! </font></p> <p><font color="#000000" size="4"> Poor people will buy what they need when given the chance. Wealthy people tend to save more when they receive tax cuts. Seven years ago, the last time the government handed out rebate checks in an economic downturn, it took about six months for the recipients to spend about two-thirds of the money. Targeting poorer people by increasing unemployment and food stamp benefits might be of more help to the economy than rebates.</font></p> <p><font size="4">The stimulus package approved by the House of Representatives does not include Social Security recipients. The 20 million people who rely on their Social Security checks for survival are dealing with expensive healthcare services, increasing gas prices and rising food costs. The majority live on less than $1,000 and could certain benefit from the rebates.</font></p> <p><font size="4">The Senate is expected to vote Feb. 4th on a competing package. Bush Republicans are opposing the Democrats’ proposal to include Social Security recipients in the Senate’s vote on the rebate. They are also supporting a $500 rebate, instead of the $600 originally proposed. </font></p> <p><font color="#000000" size="4"> Why is Bush in such a hurry to give away money, at a time when he claims to be trying to hold down spending? And why does this Congress always seem to fall for whatever scheme he presents, whether it’s a plan to squander more money in Iraq or start another war? </font></p> <p><font color="#000000" size="4"> Is handing out free money really just an attempt to divert attention away from the Bush Administration’s multitude of failures and is this plan simply a deliberate smokescreen during an election campaign? Wouldn’t it be better to do something about this country’s dependency on foreign oil and the gas prices that have contributed immensely to this situation? </font></p> <p><font color="#000000" size="4"> Who really benefits from this plan? Color me suspicious, but isn’t government spending something the conservative Republicans are supposedly against? And it seems as though every time the government loosens up its purse strings there are always people lining up to pocket the money. The carpet bagging schemes in New Orleans following Katrina come to mind. As well as the billions of dollars that are simply disappearing, unaccounted for, in Iraq. </font></p> <p><font color="#000000" size="4"> Apparently, this rebate plan does not lock in President Bush's tax cuts for the rich beyond their planned expiration in 2010. But, that issue hasn’t been permanently settled, as yet. Today's newspaper claims the Republicans are pushing for the extension of the tax cuts in the Senate version of the Tax Rebate plan. </font></p> <p><font color="#000000" size="4"> February 2008</font></p> <p> </p> <p></p></td> </tr> </table> </td> </tr> <tr valign="top" bgcolor="#0000FF"> <td colspan="2"> <div align="center"><font color="#FFFFFF" size="5" face="Times New Roman, Times, serif"><b>Throw the Bums Out! <a href="http://vaip.us"><font color="#FF0000">Vote Against Incumbent Politicians</font></a></b></font></div></td> </tr> </table> <body> <div align="justify"></div> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p><img src="http:/cgi-bin/Count.cgi?df=netgate_counters<meadow>.dat" align=absmiddle> </p> <map name="Map"> <area shape="rect" coords="1,0,233,155" href="#meadow1.jpeg" target="#meadow1small.jpeg"> </map> </body> </html>