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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (108258)7/21/2011 4:32:05 PM
From: TimF1 Recommendation  Read Replies (1) of 224755
 
They worked better than the spending increases.

But they where not big enough, and they where poorly designed. They didn't cut rates, and they where mostly set to expire after a year or two. You don't get investment and hiring because of a one year tax cut. It would be foolish to base such decisions on tax cuts that are going to go away soon.

What we need is a "permanent" cut in rates (in quotes because no tax change lasts forever, but the point is there should be no expiration date), and a real cut, from today's rates, not from a legislative baseline that includes a tax increase. To deal with the lower short to medium term revenue, and the deficits that exist even prior to the rate cuts, we can eliminate a bunch of tax breaks, and cut future growth in spending.
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