Tax Cuts a Solution to Economic Problems?
President Bush asked for almost $150 billion in tax cuts to try to help the economy. He is still working on the details with Congress. Members of Congress seem to want a "a tax rebate for the middle class and spending stimulus that jump-starts this economy quickly" according to a Democrat from New York, Senator Charles E. Schumer. The president said that he will make a final decision around January 28. Although some representatives are against these tax cuts, many believe it will help the economy.
In March of 1933 Franklin Delano Roosevelt, FDR, began the New Deal. The New Deal was FDR's solution to the stock market crash in October 1929. It was designed to create relieve from the great depression. It is widely believed that FDR's New Deal actually hurt poor people instead of helping them. To finance the New Deal there was an increase in taxes, almost 3 times the amount. The New Deal also destroyed jobs because wages were increased and production was cut back. The question now is will President Bush's tax cuts help or hurt the economy?
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