Word: reductionism
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Thursday, it was Tom Daschle and Dick Gephardt, armed with posterboards, announcing the minority party's counteroffer to George W. Bush's $1.6 trillion baby: $900 billion. No details - the Dems are still squabbling about what kind of tax cuts they want - but some proportions. With the projected non-Social...
On the income tax, Bush's statements have been a masterpiece of misleading rhetoric. The statistics he offers--that the top 1 percent of households earn 18 percent of national income, yet pay 33.5 percent of income taxes--may seem compelling, as is his mantra that lower-income families will...
Despite the fact that its benefits for most Americans will be minor, Bush's proposal requires so much money as to raise a strong possibility of blowing the budget. Once one factors in the roughly $400 billion in interest on the national debt that would otherwise have been retired, the...
Bush's latest marketing technique has been to portray the cut as a necessary antidote to recession. Yet if we are on the brink of a recession, then the surplus estimates are incorrect, meaning that in a few years we may not have any money to spend on tax cuts...
We urge Congress to use the surplus for debt reduction, for necessary investments in education and other programs and for a moderate tax cut that focuses on the lower- and middle-income families who need relief the most.