Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
 -
Lula says giving money to the poor better stimulus than tax cuts
+ -
11:22, June 24, 2009

 Related News
 Brazilian president: Global financial crisis caused by "white people with blue eyes"
 President Lula: Brazil will continue to grow
 President Lula: Brazil will continue to grow
 Comment  Tell A Friend
 Print Format  Save Article
Brazil's President Luiz Inacio Lula da Silva said on June 23 that giving money to the poor through welfare programs is a more efficient way to boost the economy than cutting taxes.

The money given to the poor will help boost commerce and consumption, which are necessary for the country's economy to resume growth.

"All the money given to a poor person goes to consumption, not to the banks, not to derivatives," he said.

The president also said some Brazilian businessmen were benefiting from tax cuts, but they did not lower the price of their products correspondingly.

Lula said since the beginning of the global financial crisis, his government has cut taxes for the automobile and construction sectors, as well as some household appliances, such as oven and refrigerators.

The government has so far unburdened the industrial sector with 100 billion reais (50 billion U.S. dollars), he said, adding that income tax and the tax over financial operations have also been reduced.

Source:Xinhua



  Your Message:   Most Commented:
India's unwise military moves
China slams Clinton's June 4 comments
Veiled threat or good neighbor?
13 more bodies from Air France flight 447 recovered
To Be or Not To Be-- reflourishing bicycle in China

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90778/90858/90864/6685224.pdf