A poll released Thursday found that a majority of Americans believe that President-elect Barack Obama can fix the economy.According to a CNN/Opinion Research Corp. poll, 76% of Americans said they believe it's likely that Obama will improve economic conditions.
In addition, 73% of those surveyed said they believe that Obama will bring stability to the financial markets...
Of those surveyed, 67% said they believe that Obama will stick to one of his most talked about promises: providing tax cuts to the middle class.
Obama's plans include providing a $1,000 tax cut for working couples making less than $250,000 and introducing other tax breaks for lower and middle-income households.
Another one of Obama's campaign pledges included leaving all tax cuts in place for everyone except couples making more than $250,000 and single filers making more than $200,000. Those high-income groups would see their top two income tax rates revert to 36% and 39.6% from 33% and 35%, respectively.
My thoughts: Good luck. The Dow has lost over 2000 points since election day. This is not a sign of hope and optimism. Raising rates during a economic downturn could be catastrophic.
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