Richard, The fix is in. Its like baseball. Bush traded the big tax cut for the half pointer and a non-gore targeted tax cut which includes modest across the board rate cuts, marriage penalty relief, death tax relief and raising of the income threshold for the working poor.
Doesn't look like it to me, Mike ... Bush still wants the whole enchilada, fast. This rate cut has more the feel of a crisis reaction than the gradual, methodical approach I just attributed to Greenspan.
msnbc.com
- Mitch
BUSH PRAISES GREENSPAN
At a news conference during the meeting, Bush praised Greenspan for what he called “bold action” but said it needed to be coupled with a broad and deep tax cut to keep the economy from going into a “tailspin.”
“A rate reduction of one-half percent is not enough to serve as a stimulus to encourage capital formation, economic growth, job creation,” Bush said. Further action is required in “the halls of Congress,” he said, reiterating his call for quick passage of the 10-year, $1.3 trillion tax cut proposal that was the centerpiece of his election campaign. |
