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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (47298)	1/30/2008 12:00:42 PM
From: TimF	Read Replies (1) \| Respond to of 541851

Would you suggest cutting tax rates to zero? Of course not, don't be silly. If you reduce taxes and do not make the spending cuts - you by definition increase taxes for people in the future. In a growing economy all you need to do is keep spending under control, you don't have to cut it in nominal terms, or even in real terms. The problem is of course that we haven't had a lot of restraint on spending. It's a mess - largely made by reckless tax cutting. No there hasn't been any reckless tax cutting. In fact taxes should be cut still more. What we have had is reckless levels of spending. We'll maybe reckless is a bit too strong. The deficit, as a percentage of the economy, is below its average for the last few decades, but definitely too much spending.