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Politics : PRESIDENT GEORGE W. BUSH
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To: DavesM who wrote (409824)5/28/2003 2:49:52 PM
From: Kenneth E. Phillipps  Read Replies (6) of 769670
 
Daves, what is wrong about States raising taxes in that States have regressive tax systems whereas the Federal Government has a progressive tax system. When regressive taxes are raised, the impact falls disproportionately on the lower income groups. This tends to suppress consumption and increase saving rather than stimulate the economy by increasing consumption.
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