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Now And Forever.(ISSUES & INSIGHTS)(EDITORIALS)
Fiscal Policy: President Bush's call to make his tax cut permanent is the right step. He should also make it immediate, and expand it.
It won't be easy. In one of the few instances where partisanship was clear during the State of the Union, Democrats sat on their hands when Bush issued his call. But if all Americans are to have a better chance to amass wealth, they should know that the government is not waiting to take more of it in nine years.
Indeed, the uncertainty that went with the structure of Bush's tax cut plan is one of its biggest drawbacks. Spread out over 10 years, there's always the chance that Congress could come back -- as Sen. Edward Kennedy, D-Mass., has suggested -- and postpone or even repeal the cuts.
To be sure, Congress could repeal a permanent tax cut as well. But it would be harder politically. Taking away something early that's due to expire anyway almost sounds reasonable. Lawmakers who take something away -- in this case, earnings -- that people are counting on would not be well met at the polls.
Making the cut permanent also changes the incentives workers would face. A worker may not strive as much to earn more if he or she thinks it's going to be sopped up by Washington in 2011. Why bother?
Congress should do more to enhance Americans' wealth-making chances. It should make all ...
- BUSH BELIEVES TAX CUT'S A CURE-ALL.(Editorial)(Column)
- Newspaper article from: Seattle Post-Intelligencer (Seattle, WA) May 18, 2001 700+ words
...boils down to one thing - a tax cut. Bush has been johnny-one-note...his recent news conference, Bush argued that a tax cut was needed to help consumers...bills. Under that reasoning, Bush's tax cut would be used by consumers to...
- Senate Chops Bush's Proposed Tax Cut in Half.
- Newspaper article from: Knight Ridder/Tribune Business News March 26, 2003 700+ words
...Senate voted 51-48 to slash Bush's tax cut to $350 billion over 10 years...38, a similar push to cut Bush's tax cut in half. But since then Bush...amendments that would restore some of Bush's tax cut money, but chances that they...
- Senate votes to slice Bush tax cut in half.(Knight Ridder Newspapers)
- Newspaper article from: Knight Ridder/Tribune News Service Kuhnhenn, James March 25, 2003 700+ words
...Senate voted 51-48 to slash Bush's tax cut to $350 billion over 10 years...38, a similar push to cut Bush's tax cut in half. But since then Bush...amendments that would restore some of Bush's tax cut money, but chances that they...
- Senate pares Bush tax cut; 65-35 vote trims the president's centerpiece...
- Newspaper article from: Star Tribune (Minneapolis, MN) O'Rourke, Lawrence M. April 7, 2001 700+ words
...didn't bother bringing Bush's full tax-cut proposal up, knowing they...the full $1.6 trillion tax cut - the centerpiece of Bush's campaign. Democrats...constituents wanted the full tax cut. Bush and his aides worked especially...
- President-Elect Bush Continues to Push Proposed Tax Cut.(Knight Ridder/Tribune...
- Newspaper article from: Knight Ridder/Tribune Business News Ratcliffe, R.G. January 4, 2001 700+ words
...Lindsey was one of the economists who designed Bush's tax cut plan. Bush's team was caught by surprise when the Federal...Steve Forbes, said Congress will quickly embrace Bush's tax cut plan once the economic downturn becomes undeniable...
- Bush $1.6 trillion tax-cut proposal goes to Congress.
- Newspaper article from: The Washington Times Curl, Joseph Boyer, Dave February 9, 2001 700+ words
...fully loaded - just like the Bush tax cut." "If you're a millionaire, under the Bush tax cut, you get a $46,000 tax cut...class." The arrival of Mr. Bush's tax-cut proposal on Capitol Hill finds...
- Senate OKs budget outline that trims Bush's tax cut to $1.2 trillion.(Knight...
- Newspaper article from: Knight Ridder/Tribune News Service Kuhnhenn, James April 6, 2001 700+ words
...outline Friday that trims President Bush's tax cut to $1.2 trillion over 10 years...of tough lobbying for a bigger tax cut by Bush and Vice President Dick Cheney...Representatives, which left Bush's tax cut intact when it adopted the budget...
- Bush stumps for tax cut in Dakotas.
- News wire article from: United Press International March 11, 2001 700+ words
...stiffest political opposition to Bush's tax-cut plan comes from Senate minority...Daschle, D-S.D., who said Bush's tax cut is too big and tailored to benefit...years. Durbin, who opposes Bush's tax cut package, said he didn't expect...
