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Saved Not Spent

Finance Minister Lindsay Tanner launches a robust defence of the government’s tax cuts:

“To the extent that there is a stimulatory impact ... it is actually far less than some people have been presenting.”…

“Everybody ... assumes that every last dollar that every citizen gets in a tax cut will be spent and not saved - that’s a false assumption,” Mr Tanner said.

I make many of the same arguments here.

 

posted on 26 February 2008 by skirchner in Economics, Financial Markets, Politics

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