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Politics : Al Gore vs George Bush: the moderate's perspective
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To: American Spirit who wrote (2558)10/16/2000 10:01:27 AM
From: TimF  Read Replies (1) of 10042
 
The surplus is based on assumptions that we maintain the present tax levels.

If we lower the tax we have a smaller surplus, esp. in the short run. In the long run the effect of the tax cuts on the budget will be less because lower tax rates promote better long term economic growth.

trying to pay off the Reagan area over-expenditures, lowered taxes, arms race and S+L debacle (while cutting important social programs to the bone and throwing away the environment).

The Reagan era's tax cuts did not keep (and do to economic growth that was helped by the lower taxes may have helped) tax revenue for greatly increaseing. You are right when you point out expenditures as the reason for the deficits. The greatest expeditures where for social programs, which grew rapidly rahter then being cut to the bone.

the tax cut is just charging a half trillion or so on the national credit card. it erases the surplus.

To keep with your analogy of deficits being charges on the national credit card, tax cuts would just be reduceing the government income that the national credit card has to be paid off with. They would not themselves be a charge on the
credit card. The planed spending would be the charges.

Bush is dreaming. and planing to rip off the surplus and put half of it into the hands of the upper class.

Reduceing taxes on someone does not ammount to riping off everyone else. Increaseing taxes on one group in order to reduce them for some one else might argueably be ripping some one off but it would be the tax increase that would be the ripoff not the tax cut.

Tim
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