Saturday, December 18, 2004

Quit toying with us

Make the tax cuts permanent:

Since these tax cuts were first implemented in May 2003, the Dow Jones Industrial average has increased by nearly 30 percent and GDP has surged forward by 4.5 percent. Without the stimulative effect of these tax cuts, John Kerry's tailor might now be measuring him for a new Inauguration Day suit.

. . . There is one faction within the GOP that wants to put off tax cuts, and that is the deficit reduction crowd. They insist that the tax cuts must be "paid for" before they are made permanent. Yet, the evidence shows that because the Bush tax cuts revived economic activity in 2004, the Treasury collected about $60 billion more in tax revenues than was expected during the year, and the deficit shrank by $103 billion from its projected level. So the cuts already are paying for themselves. Moreover, the deficit hawks should be refocusing their ire at the source of the red ink problem: out of control federal spending.

True dat.

2 comments:

Adam Scavone said...

How did I guess McCain would be in the list of Republicans who are holding out on this one? The rest of the likely suspects (as of November 8) are here.

Just a note...202-225-3121 is the phone number for the Congressional switchboard. It's pre-paid therapy (receptionist salaries are part of your tax dollars!) for political-types. Your comments are heard, too. The receptionists in Congressional offices keep tally sheets that they turn into the boss at the end of the day. They can't listen to you if you don't talk to them. Start with the tax cuts. Marco, let's have a social security reform phone slam in January, once we have our position and talking points settled. Let's get everybody in the LFC and any other libertarian groups we can to do it.

Adam Scavone said...

and of course we can phone slam for the tax cuts too