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Politics : PRESIDENT GEORGE W. BUSH
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To: Kenneth E. Phillipps who wrote (29372)8/15/2000 11:04:35 AM
From: greenspirit  Read Replies (1) of 769667
 
Kenneth, your assumption seems to be politicians from both parties would not spend the money and pay down the debt. I'm curious, what leads you to that assumption?

The more dollars politicians have to work with, the more *things* they will find to spend it on.

What we should do is dramatically reduce tax rates, thus forcing the politicians to drop existing wasteful programs. And also take social security completely off budget and allow people to invest a portion (at first) in private investments tied to their individual name.

Reagan proved you can have strong growth with low inflation.

Cutting taxes and providing some relief to families might create the environment in which two working parent decide one should stay home and raise the children. The sociological effect of one parent being home, is much more positive and profound long term, then a short term interest rate reduction.

Furthermore, cutting tax rates does not necessarily equate to less revenue to the treasurer. When Reagan dramatically cut rates in the early 80's revenue surged. When capital gains rates were cut a few years ago (by the Republican Congress and Senate) capital gains revenue increased. We need to get out of the habit of this linear way of thinking about tax cuts as a revenue reduction equation.

Keeping the economy humming along by reducing tax rates is the right thing to do. The rhetorical nonsense that *spending* equates to giving people back their money in tax cuts is sophistic clinton speak hyperbole.

Michael
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