Bushonomics - In order to be eligible for the rebate you...

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Kelsey L. Mullen Econ-215 Extra Credit 5-01-2008 George W. Bush’s Economic Stimulus Plan George W. Bush was president of the United States from 2001 until this coming Fall. He was the 43 rd President and has been harshly evaluated for many of his decisions while in office. After making the choice to enter into war with Iraq, Bush lost huge favor in the eyes of the voters and has been criticized frequently since. Some such criticisms even include many TV shows, such as Family Guy and South Park, making references to the Texas native’s accent. With so much anger towards him, few find a positive outlook. However, one of Bush’s newest decisions, (and one of his last while in office) was the economic stimulus. The idea is that in order to stimulate the economy and to keep the United States from entering a recession, (although it is already believed to have happened), Bush made the decision to have a Tax Rebate for American citizens beginning in May. This rebate would be between $300 and $1800 dollars, depending on the amount that individuals had made in that fiscal year.
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Unformatted text preview: In order to be eligible for the rebate, you would have to make at least $3000 in the last year and have filed your taxes. In addition to the original tax rebate check, business owners would receive 50% depreciation on their fixed asset purchases. This plan would also raise the limits that new homeowners took out on mortgages. The reason for this plan and the reason why it was implemented so quickly was to help boost the economy. The idea is that when Bush, (and essentially the government) gave individuals money, they would spend that money and economic growth would increase. The 1 more money that an individual has, the more buying power they have. Therefore, they would put more money into the commercial businesses, which in turn would create more investments and stocks/bonds. Bush may have made incorrect decisions in regards to the war, and he may have one very apparent Texan accent, but one thing is sure: I don’t hear anyone complaining about receiving ‘free’ money! 2...
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Bushonomics - In order to be eligible for the rebate you...

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