Americans in need of incentives for shopping

New York, Jan 23: With 2008 expected to show the weakest growth for retail sales in years, Americans sorely need some incentive to keep shopping. But economists say President Bush's proposed tax stimulus - unveiled last week - would merely provide short-term relief for consumers without curing the problems in housing, credit, energy and the job market causing an economic pullback.

Bush's plan would give refunds of up to $800 for single taxpayers and $1,600 for families. Congressional Democrats are also expected to come up with a stimulus plan, and the two sides have talked about a quick compromise to get the economy moving.

Sources