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Politics : Politics for Pros- moderated

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To: JohnM who wrote (738)	5/9/2003 12:20:20 PM
From: LindyBill	Read Replies (2) of 794188

My take on the tax cut argument is that it's about ideology rather than economics. The old Reagan strategy of getting a smaller government by starving it. I haven't posted much on the Tax Cut because it frustrates me, frankly. First off, neither side is honest about it. Probably the least honest on Fiscal of anything they do. I start with the premise that the less money the Fed gets, the better. So "Starve" the government is fine by me. I also don't buy the argument that the present deficit is a major problem. It is due to 911, mainly, and is minor compared to the size of the economy. An economic upturn would wipe it out overnight. This "debtor nation" argument of Krugmans just doesn't hold water. If the foreign creditors are going to demand high interest rates to lend us money, why are they the lowest in 40 years? When you are the world's number one power, and really the worlds money supply, things warp in your favor. Krugman is crying wolf. I see the Tax Cut as tax reform, and think the economy is too big to really be micromanaged. As a principle, any money not taken by the Government is a good thing and will help the economy. You believe that the "Robin Hood" approach is the way to tax. I don't.

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