To: TimF who wrote (26018 ) 2/12/2008 3:19:14 PM From: DuckTapeSunroof Read Replies (1) | Respond to No problemo!"Taken in isolation from spending issues, where the tax cuts a good, bad, or neutral thing, in your opinion?" modest good."Was the net result of the tax cuts, good, bad, or neutral, in your opinion?" is this supposed to be considered IN ISOLATION from all other policies the administration had, all other actions (such as the other half of the budget ledger, the SPENDING HALF)?in the early years after passage of the tax changes the economy experienced a 'modest' (possibly up to 1/2 of a percent in additional GNP at the maximum benefit year) increase in growth ... but the continual additions to the national debt (continually adding to the unavoidable interest rate payments on the debt - now $200 Billion a year , and climbing FAST ), and the upward pressure put on corporate access to financing occasioned by the continual federal need to borrow from the public markets - the 'crowding out effect', by mid-decade ERASED all prior benefits accrued from the modest Bush tax cuts, and, moving forward from that point in time, the net-net macro effect on the nation's economy produced by the Bush policies stands to grow from a 'modest negative' (where it is right about now) to a 'major negative' ... with economic growth reduced up to 1% or so BELOW what it otherwise would have been, absent the effects of his budget policies.'modest good' . (Although, unfortunately, he rejected several OTHER POSSIBLE code changes which were recommended to him and which - I believe - held the possibility of being MAJOR 'GOODS'... producing MAJOR ECONOMIC BENEFITS.
