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    tax-refund checks

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    In 2003, the Internal Revenue Service began to mail out refund checks because of a change in the tax law .Economic forecasters predicted that consumption and GDP would increase because of higher refunds on income taxes.
    Pretend as if you are an economist and explain your thoughts on wheter the tax cuts from the past few years have been succesful in promoting economic growth or in preventing a deeper decline?Are there other changes to fiscal policy that you feel would have been more succesful?

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    Solution Preview

    Large tax-refund checks have an important effect on boosting consumer spending. This is especially important when you consider that consumption spending makes up approximately 70% of all spending in the U.S economy. This also influences stock market and consumer stocks. In ...

    Solution Summary

    Large tax-refund checks are examined.