Tax Relief Plan from the White House

I just read President Bush’s Tax relief plan for this coming tax season. I am very happy a plan like this is being considered and put into action very efficiently. Here are the reasons why I believe the new tax relief plan comes just in time:

First of all, let us have a look at the details of the plan. The basic idea of the tax cut is to lower income taxes for all citizens. President Bush believes giving the highest tax cut to the lowest income working class will boost the economy. The tax cut is categorized by lowering family income taxes, reducing the marriage penalty, promoting charitable donation, cutting marginal tax, and ending the death tax.

Secondly, it sounds like a fair plan to slow down our progression toward another recession. The plan came out just in time. Obviously, this plan will put a lot more cash into the consumer’s hands. It will also give us more confidence in our economy. It is a plan that will help every single American for a short period of time. This is a plan that America needs right now. Still, I keep wondering, with the new tax cut, how can we afford the trillions of dollars we have in debt? Does the tax cut today, mean another tax increase in the future?

You can find more details on the website listed below.