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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: smolejv@gmx.net who wrote (21914)	8/1/2002 5:16:21 AM
From: Snowshoe	Read Replies (2) \| Respond to of 74559

Why tax cuts? Because it felt good.

To: smolejv@gmx.net who wrote (21914)	8/1/2002 10:40:13 PM
From: Ilaine	Read Replies (1) \| Respond to of 74559

>>Why tax cuts?<< Because consumer spending stimulates the economy. You probably did not watch the presidential debates, but to recap, there was a budget surplus. Gore wanted to put it in a "lock box," whatever that is, and save it to pay social security when social security started running a deficit (can't remember the year, something like 2017?) Bush wanted to give it back to J6P so he could spend it, save it, invest it, whatever. I don't want to get into an argument about whether Bush won or stole the election, but at any rate, he is the President, but Congress is the body of government that writes the tax law, and Congress cut taxes. Which Bush wanted. And the tax rebate payments fortuitously coincided with the summer recession of 2001 which was pretty severe even prior to 9/11. So J6P spent us out of the recession using his tax cuts.