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RE:BUDGET
by Dattatreya Govindappanavar on Mar 03, 2008 09:12 AM

I agree with you to some extent. I definitely know that there are lot of farmers, which will be benefited. I come from village and know the situation of farmers, but my family do not do any farming (disclaimer). I do not think that FM is proposing to give money from tax collection, but other means. I read in few articles that it could be by raising money from bonds. As far as reducing tax brackets, it is an intelligent move by FM to keep the economy growing stronger. I think it is doing in the footsteps of USA, where President Bush has announced an economic stimulus package where every tax payer will get a minimum of $600 if they fall within some income level. I would be getting $1800 (filing jointly- $1200 and 2 kids - $300 each). So, FM has taken similar step and this way FM is trying to encourage spending and get some votes also :-)

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Your income tax: How it works now