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Politics : Bill Clinton Scandal - SANITY CHECK -- Ignore unavailable to you. Want to Upgrade?

To: Neocon who wrote (57509)	7/26/1999 1:26:00 PM
From: DMaA	Read Replies (1) \| Respond to of 67261

Why we shouldn't expect a Federal income tax cut. Ever. July 26, 1999 In the Battle Over Tax Cuts, Both Parties Claim Support From Greenspan Testimony By Jim McTague . . . Any tax policy designed to promote savings will not help the people who need it the most, citizens whose incomes are so low they pay no taxes. The Administration estimates that 35% of all households do not pay federal income taxes, though they do pay the Social Security payroll tax. William Beach of the Heritage Foundation, a conservative think tank, believes the number of untaxed households is actually closer to 40%. Most married couples who make less than $30,000 pay no federal income taxes, he says; nor do most individuals earning less than $21,000. Beach says his organization believes the way to promote savings is to replace the income tax with a consumption tax. . . . interactive.wsj.com