Bush Plans New Tax Cut for Election Year

Roll Call ^ | 10/22/03

[okie01]

"I would really rather that the Bush administration work on a spending cut plan, thank you."

Of the two -- tax cuts and spending cuts -- if we can only have one, I'd rather have the tax cut.

The tax cuts, at least, will help generate new federal revenue, which will, in turn, help cover existing spending.

Note: I didn't say additional spending. Continuous tax cuts with a spending freeze would suit me just fine.

[mrsmith]

"Tax cuts are just pushing the big I.O.U. on down the road for our grand kids to pay. "

You're too young to remember this being said about the Reagan tax cuts, and the Tip O'neill spending increases- AND they don't teach about that in school?

If it wasn't for grandparents, I don't think kids would be taught any history at all.

[Norse]

Tax cuts are far more important than spending cuts. Promising spending cuts instead of tax cuts is a good way to lose an election.

[Norse]

people need to understand that more jobs will be created if taxes are reduced - the electorate knows this - if he wants to get elected again, he needs to pledge to cut taxes more

[Prodigal Son]

Call a spade a spade...

Sure. But it would still help me get more Sims to move into my city.

[jern]

Go check out the latest Farm Bill, making airport workers Fedearl Employees, or any of the other garbage the "Republican" congress has passed.

[oceanview]

i'm not convinced. sure, that is true to a point. but the households with wage earners that have not lost their jobs have plenty of spending power: tax cuts/rebates, lower mortgage payments free up a block of monthly cash, etc. every dollar you toss to a consumer, a good junk of that goes to buy foreign made products. if we could structure a solid tax proposal that would encourage employment within the US, stopping this offshore bleeding, you would do more to help those households that have lost jobs or have taken lesser paying jobs, and there are alot of those.

[Orangedog]

I'll ask my 14 year old...she's all over that Sim stuff :)

[edchambers]

And before I get the "They pay social security taxes" argument from others, no, they don't. The (un)Earned Income Tax Credit returns all of that to them, and sometimes more

True but only if you have kids. Single folks in EVERY tax bracket get hosed every paycheck, every year, forever an ever.I feel like my tax dollers are paying bonuses to welfare mothers for having kids.

[Orangedog]

Agree. I pointed that out on a previous thread and had a couple of rabid soccer moms jump me for daring to question their right to our tax dollars for deciding to have a gaggle of kids. Of course these are the same type of people who will vote to raise my property taxes to keep the local school district from making them pay for their kids to play soccer and football.

[rwfromkansas]

The FairTax. www.fairtaxvolunteer.org

[VRWC_minion]

So are you saying if we reduce government income (taxes) then eventually spending is reduced because deficits eventually become political liabilities?

No, economic liabilities. The buyers of the debt instruments look to the ability of the gov't to pay. If their ability to tax is reduced it reduces their ability to borrow.

In addition, as the current interest costs eat up more of the budget their is less room to spend.

[VRWC_minion]

So that would also mean that more receipts would mean higher deficits. Your bank must make a futume off of you in bounced check fees. ;)

My ability to borow is directly related to my income. The same is true for gov't. The less receipts they have the less they can borrow.

[taxed2death]

God, I wish I was as young as you think I am :)

[mrsmith]

LOL! Nah I knew better.

But you gotta admit the "Reagan deficit" shows it's not so simple as just saying "deficits are bad". Other factors are involved (and I'll admit I can't see the future well enough to know surely how they will work out in this case).

[JimRed]

Sure 'nuf, but sending them (checks) out costs money.

Costs who money?

Costs ALL of us money; processing, printing, postage...

[finnman69]

Isn't it OUR money?

[JimRed]

Isn't it OUR money?

Exactly! And if they don't take it in the first place, we don't have to pay for getting it back!