A discussion of how George Bush's Tax Plan will help boost the economy.
Written in 2002; 1,431 words; 10 sources; MLA; $ 47.95
Paper Summary:
This paper examines how, faced with the worse economic slump in more than twenty years, President Bush is responding with a tax cut proposal that will adequately address many of the sources of the economy's woes. It evaluates how his plan calls for immediate actions to reverse the stock's market's downward spiral and to fuel consumer and business demand. It analyzes how Bush's plans represent a fair balance of benefits for the wealthy, middle income and low income households and how the negative short-term effects on the budget will be negated by the long-term prosperity generated by the economic stimulus package.
From the Paper:
"The key feature of President Bush's tax plan is elimination of the double taxation of dividends. The two-year bear stock market has seen losses of more than $7 trillion. These losses have devastated investment in technology startups because of the lack of an IPO-exit potential and have dramatically decreased the value of individual's investment portfolios and pensions. Currently, dividend income is taxed as corporate income to the business and as personal income to the receiver of the dividend, meaning that tax rates on dividends can run as high as seventy percent. These exorbitant tax rates reduce stock values, capital investment and savings. Dr. John Rutledge, a senior economist in the Reagan Administration and now president of Rutledge Capital, states that a dividend tax reduction would raise stock values by five to thirty percent because a cut would raise the after-tax return on dividend paying assets above that of other assets."
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