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Politics : PRESIDENT GEORGE W. BUSH
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To: Selectric II who wrote (477642)10/17/2003 8:15:22 PM
From: Kenneth E. Phillipps  Read Replies (2) of 769667
 
I repeat, We have a long term structural deficit of 25% which can only be corrected by tax increases. There is no other way. You can stick your head in the sand like an Ostrich and pretend the problem doesn't exist but it sure will come back to bite us. The Bush 1 tax increase and the Clinton tax increase was the price of the Reagan tax cuts. Milton Friedman said - a tax cut without spending increases is not a tax cut. It is a deferred tax increase. That is what we have - a deferred tax increase.
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