Paper Summary:

In this article, the writer discusses the tax refunds in 2003 and their effect on the economy. The writer notes that most people are perfectly happy to receive tax refunds and believe that lower taxes are always a good thing. The writer further points out that they may also believe that tax cuts and tax refunds automatically translate into an improved economy. However, as is demonstrated in this paper, this is not always the case.

From the Paper:

"Most people are perfectly happy to receive tax refunds and believe that lower taxes are always a good thing. They may also subscribe to the Republican idea that tax cuts and tax refunds automatically translate into an improved economy based on the idea that the more money people have, the more they spend, and the more they spend, the better the economy, the higher the GDP, and ultimately the higher tax revenues will be because of higher incomes and especially increased business revenues. However, this is not always the case and cannot be relied upon over time given that there are other forces affecting the outcome. For instance, the current tax cuts in the United States have been touted as benefiting the economy by creating more spending and more investment so that the economy will continue to grow."

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