Word: taxed
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TIME: So there's room for more tax cuts...
...getting something for your money. You're getting growth. It's going to go to 4% and 5% in the next couple of quarters. The problem is, it's not translating into the job growth you typically see. If you're a business, you take the tax incentive to invest in productivity-enhancing equipment, and you take the opportunity to move some labor costs abroad...
BURTLESS: Whether the tax cuts were well structured depends crucially on your view of the sunset provisions. The way the tax law is written, many of the cuts come to an end, but suppose they were made permanent. If you look ahead 40 years, taking into account the growth in Medicare, Social Security, Medicaid, we have the deficit at 4% of GDP. About 60% of that is due to the tax reductions of the first three years of this Administration...
MCKELVEY: Tax cuts are like the British Empire--the sun will never set on them...
MCKELVEY: First of all, a lot of that improvement in the budget came not just from a strong economy but from a strong stock market and capital-gains tax revenues that flowed from that. And I don't think too many people expect a repeat of the buoyant stock market...