Bush Unveils $674 Billion Economic Plan

Reuters via Yahoo ^ | 1/7/03

[B-bone]

Bush Unveils $674 Billion Economic Plan

CHICAGO (Reuters) - President Bush (news - web sites) on Tuesday proposed a $674 billion boost for a struggling U.S. economy with measures including an end to taxes that shareholders pay on dividends -- a move denounced by Democrats as a politically motivated windfall for the rich.

"I will ask members of both parties to work with me to secure our economic future. We cannot be satisfied until every part of our economy is healthy and vigorous," Bush said in a speech to the Economic Club of Chicago.

The "growth and jobs" package aims to kick-start the U.S. economy by encouraging consumer spending, promoting investment that will create jobs and helping the unemployed.

It will include the acceleration of across-the-board rate cuts, immediate tax relief for married couples and families with children, and bigger incentives for small businesses to invest in new equipment.

In all the White House says it will give 92 million taxpayers an average tax cut of $1,083 this year. Up to 35 million people who get income from dividends could benefit.

[capydick]

I wish President Bush would pre-empt the RATs' line about "tax cuts for the rich" like he did at the RNC convention drawing attention to the "risky scheme" sound bite of algore. It seemed to me that Bore rarely used that line after W after mocked it at the convention. He needs to do the same thing with "tax cuts for the rich".

[Big Guy and Rusty 99]

immediate change doesn't work!

[TruthConquers]

My understanding is that payroll taxes are for social security.

So, wouldn't that be opening the "lock box"?

[YaYa123]

Mighty good to have the FOXNews camera on Jim Talent, Lamar Alexander, and Norm Coleman. Mighty mighty good!

[Wphile]

Well, actually there are lots of people who don't pay any payroll taxes either. It's a little thing called the Earned Income Tax Credit and it is a refundable credit for people earning less than $30,000 but don't pay any income tax so they are refunded a portion of their payroll taxes through the tax credit...ie., they get a check even though they didn't pay any income taxes.

[YaYa123]

yes yes,....that's what was so funny about Paul Begala telling Tucker Carlson that the best way to give tax breaks would be to give people a holiday from payroll taxes. Tucker Carlson and Lou Dobbs really gave Begala the business for suggesting he would disturb that social security lock box.

[Big Guy and Rusty 99]

no, that's a social security tax which evidently goes towards social security (and it's a tax.)

[ohioWfan]

There was a twinkle in his eye, Wphile. He's having FUN with this.

Tax relief is one of his deep down core values, and because of that GREAT election victory in 2002, it's gonna happen! Yessss!!!!

[oil]

"Imbercile" - huh? Another one of the "Bush is a moron" crowd. You have been proven wrong. Please go to the correct site.

[Quilla]

Them imbersiles at Google have never heard of it either:

Your search - imbersile - did not match any documents.
No pages were found containing "imbersile".

Suggestions:
- Make sure all words are spelled correctly.
- Try different keywords.
- Try more general keywords.

[Wphile]

Also loved the very direct jab at John Edwards and his trial lawyer pals. He was great. Wonderful speech.

[You Dirty Rats]

If you want to see a real "imbercile", I suggest you check out a mirror.

If you are against all taxes, then you need the Congress to pass a law abolishing taxes and have the President sign it.

You might want to come up with a way to pay for essential U.S. Government Services, starting with our military.

Or perhaps you are an unshaven anarchist.

[Wphile]

Lou Dobbs and Tucker Carlson said that reducing the payroll tax would be robbing from the lockbox?? Too funny.

I find it interesting that so many pundits are throwing out this payroll tax cut but the Dems didn't propose it!

[keats5]

Linda Vester called Geraldine Ferraro on that same point today. Ferraro was claiming that 401 plans are tax free, and Vester interrupted and corrected her in no uncertain terms. We still pay taxes on tax deferred investments. Ferraro looked dumb.

[Wphile]

I cannot believe they have Geraldine Ferraro on! Man, the Dems are desperate. She didn't have a clue.

I don't know who orchestrated all this but having Pelosi come before Bush was brillant - for Bush that is. Contrast the Dems and Bush's message. It's extraordinary. W is so optimistic and inspiring and the Dems are just nasty and depressing. If Pelosi thought she could preempt W, then I hope she continues to try!

[meyer]

"Most Americans who have investments in the stock market have it through their IRA or their 401K, so that is tax-free anyway," said House Democratic leader Nancy Pelosi of California.

Tax-deferred is not tax-free, Nancy.