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Politics : Politics for Pros- moderated
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To: neolib who wrote (124294)7/10/2005 2:33:30 AM
From: greenspirit  Read Replies (1) of 794032
 
President Reagan pushed through Congress tax reduction from 70% to nearly 26%. He had to appeal directly to the American people in order to pressure Democrats to go along after Carter's stagflation years. If the Democrats had their way, we would be back to 70% again.

You're right; the difference is one of degrees. However, the separation is huge.

Most Republicans would like to see taxes in the 15-40% range, while Democrats would like to see it in the 50-75% range.

This seemingly small degree of difference causes tremendous macroeconomic impacts. The deficit is coming down rapidly now due to Bush's tax reduction strategy which created the environment around which businesses and individuals were more likely to succeed. Growth of nearly 4% has increased tax revenues dramatically, that growth will overcome the deficit numbers as long as spending remains within reasonable bounds.

I would rather see America have the lowest tax rate possible while simultaneously balancing the budget. Where that number is depends on how many people in congress have the courage to limit spending. I've rarely seen a Democrat propose spending reductions; I've often heard Republicans propose spending reductions but then rarely deliver.

The past is no guarantee of future performance. So we'll have to see who is willing to limit the giant sucking sound coming from America's bloated pig treasury.

I'll wager conservatives are more likely to lead that fight and take the political darts from Demolibs who cry "you're starving children, starving the elderly, cutting off funding to secure our city" etc. etc....e.g. Hillary Clinton yesterday.
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