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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: DMaA who wrote (279998)	7/24/2002 4:56:17 PM
From: FastC6	Respond to of 769667

Forgot that one...I am sure there will be more. . .

To: DMaA who wrote (279998)	7/24/2002 5:19:24 PM
From: Gordon A. Langston	Read Replies (1) \| Respond to of 769667

Tax on capital....can't wait till you die... Wednesday, July 24, 2002 Action needed to turn market around Does yesterday's 82 point drop in the Dow Jones Industrial Average mark a slowing of the stock crash - the DJIA dropped 235 points on Monday - or the continuation of a long plunge? Americans of every stripe, in and out of government, are asking those questions because a dropping economy means lost jobs, reduced pensions, lower tax revenues and ruined futures. President Bush just hasn't been leading, allowing the markets to look on an uncertain future. Will the president back reasonable legislation to prevent future business fraud, or will he instead support draconian laws that criminalize normal business mistakes and enrich only trial lawyers? And will he deal with the economy's other problems? Newsweek's cover headline this week is: "Like father, like son." The subheadline, "The war's gone well, but the economy's hurting." Is George W. Bush repeating the mistakes of President George Herbert Walker Bush? As the markets fall, No. 43 has to learn the lessons that ended his dad's career." George W. Bush is the 43rd president, his father, George H.W. Bush, was the 41st. Perhaps, but there's a clear path out of the mire. Stephen Moore, president of the Club for Growth, a free-market think tank, told us the president needs to do five things to salvage the economy: •Get a new treasury secretary. The current secretary, Paul O'Neill, doesn't understand the importance of tax cuts in encouraging investment and growth, Mr. Moore said. He suggested a possible replacement might be Steve Forbes, the Forbes Magazine publisher and 2000 GOP presidential candidate. "Forbes has credibility on Wall Street and has growth and supply-side credentials," Mr. Moore said. Supply siders believe that policy should be aimed at encouraging production and jobs growth. •Bush needs to cancel the 30 percent tariffs he imposed on imported steel in March. "Steel prices have doubled since this spring," Mr. Moore said, causing "a huge number of layoffs" in industries that use steel. •The president should insist that the new budget for fiscal 2002-03, which begins in October, fast-forward his tax cuts, instead of letting them dribble into law over the next few years. •He should advance a pro-investor agenda. He should insist on cutting the capital gains tax in half, to 10 percent from 20 percent. "That wouldn't cost the Treasury anything because there isn't any investment anyway," Mr. Moore said. •The president should stop watching the polls, otherwise "he's going to tumble as fast as the Dow Jones does," warned Mr. Moore. The president's father also had high polls after the Gulf War, then saw his approval rating crash with the economy. What wins elections is a growing economy. There's still time for recovery, provided the president and Congress learn to unlock the keys of economic growth through lower taxes and a reduction in the size of government and the amount of government regulation. Editorial in the OC REGISTER July 24, 2002