President Obama set to announce tax cuts and fiscal stimulus
President elect Obama is set to head into office and hit the ground running with news of a multibillion-dollar fiscal stimulus package which it is claimed could create up to 4,000,000 jobs. Intriguingly the strategy is very similar to that undertaken by Gordon Brown in the UK, aside from the tax reductions which Obama wants to introduce. The similarities to the Gordon Brown scheme involve bringing forward and increasing the number of public sector projects to create and safeguard hundreds of thousands if not millions of public sector jobs.
However, even before he has entered office his new plans have attracted criticism with some senators uncertain as to how tax reductions can be used to stimulate the economy at a time when billions of dollars of investment are also required. There are concerns that not only will US debt start to increase again but taxpayers would be left to carry the burden in the future.
As with the UK we are starting to see the creation of a new trend with many governments around the world suggesting that the public sector is the key to future economic growth and recovery. However, many people, especially taxpayers, see this as the easy get out clause with significant concerns of tax increases to pay for increased public-sector spending in the future.
Share this..
Related stories
How will Gordon Brown pay back the national debt?
As many economists start to turn vaguely positive on the UK economy we may be on the verge of a recovery in business levels. While this news has, and will continue to be, well received by business leaders and the stock market, there are still severe concerns as to how Gordon Brown will pay back the national debt which is literally crippling the UK budget.
While many are awaiting the...
Are you making the most of online shopping?
As money becomes ever tighter in UK more and more people are looking towards the Internet for their everyday spending. But are you really making the most of online shopping and the various discounts and promotions on offer?
While there are obviously a number of leading names on the Internet such as Amazon, eBay and other such well-known entities that these are not always the cheapes...
Will you be changing your spending habits?
Now that the UK government's emergency budget is out of the way we can start to see how these changes will impact upon the everyday life of people in the UK. Despite the fact that many of us may not intentionally change our spending habits there is no doubt that such basic changes as an increase in VAT will mean less money in our pockets. So will you be changing your spending habits? The truth...
Read MoreUK government to withdraw tax relief on childcare vouchers
Gordon Brown recently announced that the UK government will be withdrawing tax relief on childcare vouchers much to the dismay of working families in the UK. While the money saved will be used to increase the number of childcare places available across the UK there is growing concern that families most in need will potentially be forced to give up their employment to look after their children.
Is Gordon Brown really the champion of the middle classes?
Gordon Brown has today reiterated his stance regarding the middle classes of the UK despite only days ago ridiculing David Cameron because of his "privileged background". Indeed Gordon Brown has spoken in detail about his own "privileged background" with many suggesting he is trying to align himself with those in middle England, who effectively won the election for the Labour Party last time. T...
Read More