Economic Stimulus Plans

Paper Summary:

This paper discusses how while no longer in recession, the United States economy continues to grow at an anemic rate and how President Bush has proposed a stimulus package and the Democrats have countered with their own. It debates whether the politicians are looking to gain popularity or truly focus on the real economical issue concerning the livelihood of working Americans. It evaluates both plans and shows how even though they both have positive attributes that would be vital in the economic stimulus of the economy, both parties should reach a consensus that will quickly aid the financial plight of the Americans who are out of work.

From the Paper:

"President Bush's proposal (2003) would be worth up to $300 billion over period of ten years. Working Americans would find more money in their paychecks this year if Congress chooses to decrease the tax rate that is currently in place. This plan is set to take effect in 2004. Advisers say that proposal will likely exclude top-tier taxpayers in an effort to fend off Democratic criticism that the President's tax programs cater to the rich. The administration has maintained that those tax cuts helped save the economy from getting worse, and that more cuts could hasten a full recovery. Advisers say the administration has been sensitive to the debate over whether benefits should be aimed at the rich or middle- and lower-income households. Advocates say the plan will include as much as a fifty percent reduction of taxes on dividends to individuals as well as corporate tax breaks that are designed to encourage companies to create jobs by investing in expansion."

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• Term Paper # 148921 : "The Stimulus Bill"

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