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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (60966)	10/16/2004 4:53:47 PM
From: Gary Walker	Read Replies (2) \| Respond to of 89467

Who cares? About Warren Buffet....only God and Warren know Buffet's agenda. Without the tax cuts we were headed for a severe recession..... Study past recessions. It took fiscal and monetary policy to fix them. Lower taxes and lower interest rates. We had historically low interest rates in 2001. The only option was to reduce taxes. Look at the Japanese economy after 1988 high in their stock market. The crash in the market there caused massive deflation of their economy to the point that NEGATIVE interest rates didn't turn it around. Japan STILL hasn't totally recovered because they mismanaged fiscal policy. One of the big factors in the Depression of the 30's is the lack of available fiscal policy stimulus. Taxes were so low back then they was essentially nothing to cut. Furthermore there was a tax and interest INCREASE in 1930?! I'm not going to research this, but am going by memory...... Anyone who truly believes the tax cuts didn't save this economy from a drastic increase in the unemployment rate are clearly 1. partisan, 2. uneducated, or 3. both.