NewsFlash: January 23, 2008
No surprise – Bush stimulus misses target
Indications are that the president will propose an economic stimulus plan that includes a tax rebate. EPI senior economist Jared Bernstein writes in today’s Snapshot that 70 percent of the president’s tax rebate goes to those with incomes in the top 40 percent (above $47,000) and less than 10 percent will reach the bottom 40 percent (with incomes below $27,000). “For a tax rebate to be both effective and equitable, it should be targeted at low and moderate income households,” said Bernstein.
For more on ways to stimulate the economy, see EPI’s Recession Watch.
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