again - the current stimulus package is 35% tax cuts
the other 65% was spending and I'm not aware of any of it going to China or coming to me to paydown my credit card
Spending creates more stimulation to the economy than tax cuts.
This link does video doesn't include Schiff screaming that the sky is falling so you probably won't watch it but it does include good info on the stimulative effects of tax cuts vs. govt. spending.
http://www.freemarketproject.org/articles/2009/20090204133834.aspx
The stim bil is merely proping up state budgets which need to be reduced.
A tax cut is when you treduce someones tax rate. They gave a credit or rebate check or whatever you want to call it.
This entire fiasco is not going to work and more and more people realize it, including Buffett, Powell, Rogers, Cashin, Cramer, et al.
Even Krugman is admitting this plan was not focused correctly, as I said even though I disagree with Krugman on other things.
There is only 5% to infrastructure while the rest is utter nonsense.
Even Neuro on the Stocks board agreed this is 90% pork nonsense.
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