Fewer Than 60 Percent of Working Households Benefit Fully From President's Tax Rebate
Contributing Organization(s): Center on Budget and Policy Priorities
Author(s)/Creator(s): Aviva Aron-Dine
Publishing Date: 2008-01-01
Issue Areas: Economic Development; Government Reform; Welfare and Public Assistance
Ownership/Rights Info: Please consult the copyright holder before using or repurposing this information.
The centerpiece of the President's economic stimulus proposal reportedly is a tax rebate that would be provided by temporarily reducing the 10 percent income tax rate to zero. The plan has been described as featuring a rebate of $800 for individuals and $1,600 for couples. This description, however, is misleading. Only those filers with incomes high enough to put them in the 15 percent tax bracket or a higher tax bracket could qualify for the full rebate, while most low- and moderate-income households would receive no rebate at all. This approach would not only deny help to the individuals hardest hit by a weakening economy; it would also make the rebate considerably less effective than it could be as economic stimulus.
Access this research:
Votes: 0 | Average Rating: n/a
Click to add your rating!
Click to add your rating!
Related Research
Explore related research listed in the same issue areas.
Here are titles that might interest you:
- Fueled By Developing Asia, Global Economy Continues To Expand
- The Union Wage Advantage for Low-Wage Workers
- The Best Value in the Subprime Market: State Predatory Lending Reforms
Share and Share Alike
The golden rule at IssueLab ... share the knowledge, share the love!
