Word: tax-cutting
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...justify cutting taxes when you're already running a huge deficit and you're adding new spending like an extra $400 billion on Medicare? For a quarter-century, tax-cut junkies have had two answers to that. One is supply-side economics: There is no need to cut spending. Tax cuts can be so liberating they will actually pay for themselves, and then some, by inspiring new economic activity...
...idea that a tax cut will immediately return 90˘ on the dollar is wildly optimistic. Starve the beast, as a philosophy, has nothing to say about what exactly gets cut from the government budget. And there is an implication that this cutting happens painlessly, like the supply-siders' free lunch. But it does not happen painlessly or without a fight. At a somewhat more realistic STB rate of 50˘ worth of budget cuts for every tax-cut dollar, the deficit climbs from 0 to 11 (equivalent to $220 billion). Spending drops to 97 around year eight but is back...
...America through the Great Depression and World War II, for Ronald Reagan, the man who led us through the ’80s. The bill has gained 80 co-sponsors so far, including practically the entire House GOP establishment. “Tax-cut and spend” Republicans—who’ve apparently been unsatisfied simply giving away the federal budget to the wealthiest Americans—now want to manipulate the currency itself...
...surprising for a man who ascended to the post after being in the Senate for only eight years, having spent his career as a surgeon and then earning millions of dollars from HCA Inc., a hospital chain his father and brother founded. Last April Frist publicly agreed to a tax-cut package that was $200 billion less than what House Republican leaders wanted. House Speaker Dennis Hastert was furious, and Frist spent weeks healing the rift. Republican Senators trying to push the initial energy bill through the Senate last June publicly griped that they couldn't build momentum behind...
...surprising for a man who ascended to the post after being in the Senate for only eight years, having spent his career as a surgeon and then earning millions of dollars from HCA Inc., a hospital chain his father and brother founded. Last April Frist publicly agreed to a tax-cut package that was $200 billion less than what House Republican leaders wanted. House Speaker Dennis Hastert was furious, and Frist spent weeks healing the rift. Republican Senators trying to push the initial energy bill through the Senate last June publicly griped that they couldn't build momentum behind...