Author Topic: President Bush Pushing for Tax Rebates  (Read 2908 times)

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Offline Hawkgirl

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President Bush Pushing for Tax Rebates
« on: January 17, 2008, 04:54:27 PM »
President Bush Pushing for Tax Rebates, Breaks for Businesses as Part of Stimulus Plan

WASHINGTON —  President Bush told congressional leaders privately on Thursday he favors personal income tax rebates and tax breaks for businesses to help avert a recession, officials said, as Federal Reserve Chairman Ben Bernanke joined in calls for an economic stimulus package.

Bush spoke with congressional leaders as top House aides worked on an economic rescue package that included more money for food stamp recipients and the unemployed as well as tax rebates and cuts.

Officials described the developments on condition of anonymity until a formal announcement was made, and no further details were immediately available about the size of the rebates or components of the emerging package.

One official said the president did not push for a permanent extension of his 2001 and 2003 tax cuts, many of which are due to expire in 2010. That would eliminate a potential stumbling block to swift action by Congress, since most Democrats oppose making the tax cuts permanent.

Bernanke voiced support for a stimulus package in an appearance before the House Budget Committee, but said it had to be quick and temporary.

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Bernanke forecast slower growth in 2008 but not a recession.

http://www.foxnews.com/story/0,2933,323426,00.html

I watched Bernhang speak to the House today on CNBC...and the democrats were complete idiots, going as far as asking for a CHECK to help their unemployed citizens who decided to stop looking for a job.  Bernhang's response was excellent..I'm paraphrasing, but something along the lines of "giving a blank check to those people is not the solution, you need long term changes and incentives"...The dumb democratic representative shut up quickly when her request for a hand out was rejected. 



Offline Lacarnut

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Re: President Bush Pushing for Tax Rebates
« Reply #1 on: January 18, 2008, 11:49:24 AM »
Glad that Uncle Ben is the Fed Chairman rather than that double-talking, ass kissing Greenspan.

Tax breaks for individuals and for business will help in the short term but I think we are headed for a recession. The Congress critters will squabble about who gets what and it will be months before any benefits are distributed. 

Offline Lauri

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Re: President Bush Pushing for Tax Rebates
« Reply #2 on: January 18, 2008, 10:51:06 PM »
well, just damn... are you sure?



Offline Lord Undies

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Re: President Bush Pushing for Tax Rebates
« Reply #3 on: January 18, 2008, 11:02:42 PM »
If Washington has all this money to send back to folks, why did they take it from them in the first place?  These aren't pennies from Heaven.  This is an admission that Washington takes too much money out of the private sector.  That could be a lot of what is wrong with our economic system right now.  That isn't capitalism, folks.