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Politics : PRESIDENT GEORGE W. BUSH
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To: gao seng who wrote (159806)7/11/2001 2:33:31 PM
From: Nadine Carroll  Read Replies (2) of 769667
 
I would take you more seriously if you would have stated the proper amount of the tax cut. Really shows bias to make it bigger than it really is.


Nobody knows how much the tax cut will amount to. The one thing that's clear to everybody is that the tax cut that was passed, with its phase-ins, phase-outs, disappearing then reappearing estate tax, and vanishing act at the end of Year Nine, is not implementable. It's a fine recipe for a tax crisis every year. So the question is, will they repeal parts of it or instate the missing parts? If they instate the missing parts -- repeal the estate tax for good, add back the cuts for Year 10, fix the AMT so one-third of all taxpayers don't wind up paying it -- the cost will probably go over $2 trillion. If they repeal parts of it, who knows?
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