Word: tax-cutting
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Democrats look for tax-cut ammunition
Even George W. Bush seemed surprised at how hot tax-cut fever was getting. At a White House meeting last week with congressmen from the Ways and Means Committee, Bush marveled that while he had proposed a $1.3 trillion tax cut on the campaign trail, "Now, all of a sudden, people are throwing out $1.6 trillion. Everything in Washington seems to grow." Massachusetts representative Richard Neal leaned over to him. "So, Mr. President," he asked, "what is the real number?" "$1.8 trillion!" Bush shouted, then said he was only joking. But the congressmen weren't. From the back...
...During the campaign, Bush's tax-cut plan seemed too grandiose to many voters. But layoffs, slipping economic indicators and a blessing from Fed chairman Alan Greenspan made the idea credible - and now Washington can smell a big tax cut the way hogs smell slop. Politicians are scrambling to the trough. Some of their schemes are well-intended - Senate majority leader Trent Lott wants to change the alternative minimum tax so it doesn't take such a big bite out of middle-class taxpayers - but all of them threaten to grow the beast. Lott's plan would bring Bush...
...Nobody else seems interested in hitting the brakes. At a Rose Garden ceremony last Thursday, Bush signed a letter delivering his tax-cut proposal to Congress. The same plan he campaigned on, it would lower tax rates across the board, doubling the child-care credit to $1,000 per child, reducing the marriage penalty and phasing out the estate tax. "This country has prospered mightily over the last 20 years," Bush said. "But a lot of folks feel as if they've been looking at somebody else's party...
TIME White House correspondent John Dickerson, who'd just left a South Lawn press conference about President Bush's tax-cut plan, was on his way to the office when the news broke: A man, waving a handgun in the direction of the White House and threatening to kill himself, had been shot by Secret Service agents. The alleged gunman, later identified as Robert Pickett of Evansville, Ind., was in surgery early Wednesday afternoon at George Washington University Hospital. At an afternoon press conference, held after the arrest, White House spokesman Ari Fleischer emphasized that the President had never been...