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Politics : PRESIDENT GEORGE W. BUSH
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To: Bill who wrote (23741)7/11/2000 6:46:48 PM
From: DMaA  Read Replies (1) of 769670
 
As I understand the so-called "wealth effect", it's the idea that an artificial and speculative bulge in stock prices is being leveraged by borrowing to finance new unsustainable spending.

With tax cuts, we are talking about individuals keeping more of the real wealth they create. There is absolutely nothing inflationary about this.

If you believe tax cuts are inflationary, you would have to believe that tax increases were anti-inflationary. This is clearly nonsense.

The only way inflation could follow a tax cut would be for the Fed.Govmt to maintain or increase it's spending and finance it by printing money. This is always a danger tax cut, tax increase, or tax status quo.
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