PRESIDENT BUSH'S BIPARTISAN TAX CUT: A PRESCRIPTION FOR JOBS AND ECONOMIC GROWTH

PRESIDENT BUSH'S BIPARTISAN TAX CUT: A PRESCRIPTION FOR JOBS AND ECONOMIC GROWTH

While Budgetless Democrats Work To Roll Back Tax Relief, Republicans Have A Proven Plan For Job Creation And Economic Growth

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"And should current economic weakness spread beyond what now appears likely, having a tax cut in place may, in fact, do noticeable good."
(Alan Greenspan, Testimony Before The Senate Committee On The Budget, January 25, 2001)

Senator Conrad Doesn't Understand The Value Of Tax Cuts.
"Senate Budget Committee Chairman Kent Conrad (D-N.D.) . . . [r]eferring to President Bush's push to make last year's tax cuts permanent while passing still more tax cuts, Conrad said, 'he certainly has no plan to right the ship. In fact, he's punching more holes in the hull as the ship goes down.'"
(Jonathan Weisman, "CBO Predicts Four Years of Deficits," The Washington Post, August 27, 2002)

Senator Hollings Advocates The Cancellation Of Republican Tax Relief.
"[C]ancel the tax cuts . . . . If Americans want to regain confidence in the stock market and in the country they should know the problem is infectious fraud, not infectious greed."
(Senator Hollings, Congressional Record, August 1, 2002)

Senator Clinton Labels Tax Relief As "Fiscally Irresponsible."
"Democrats say the president wouldn't have to pinch pennies on homeland security if he would roll back some of his 10-year, $1.35 trillion tax cuts. 'It was fiscally irresponsible last year to pass a recklessly large tax cut . . .' said Sen. Hillary Rodham Clinton, D-N.Y."
(Kathy Kiely, "Bush Rejects $5.1B In Showdown With Congress Over Spending Bill," USA Today, August 14, 2002)

Senator Wellstone Criticized President Bush's Tax Cut.
"Wellstone called the Bush tax cuts 'fiscally irresponsible . . . .'"
(Patrick Sweeney, "Federal Budget Divides U.S. Senate Candidates," Saint Paul Pioneer Press, August 19, 2002)

Vermont Governor Howard Dean Supports A Roll Back Of Tax Relief.
"I think most of the [P]resident's tax cut ought to be repealed. It's very bad economic policy." (NBC's "Meet The Press," July 21, 2002)

The Congressional Budget Office Reported That The Past Economic Recession, Not Republican Tax Relief, Put The Federal Budget Back In Deficit. The CBO reported August 13th that 80% of the change in revenue projections for FY 2002 was due to economic and technical changes, not tax relief. OMB agrees that a continued sluggish recovery could cause receipts to decline even further in future years than recently projected in the Mid Session Review. CBO's numbers also show that if there never had been a tax cut, the budget would still be in deficit today.
(Congressional Budget Office, "Budget And Economic Update," August 2002)

Democrats Have No Plan For Economic Growth Besides Increased Spending And Raising Taxes. While Senate Democrats have failed to pass a budget, they have endorsed several trillion dollars in additional spending beyond what President Bush requested, which would increase the debt and guarantee permanent deficits. Some Democrats have even proposed raising taxes, but as our economy is struggling and many Americans are out of work, raising taxes is exactly the wrong thing to do. Additionally, eliminating last year's tax relief would not solve the short-term deficit problem, but would raise taxes on low and middle-income workers.
(The White House, "CBO Budget Update Confirms Fiscal Restraint," August 2002)

The Congressional Budget Office Projects A $1 Trillion Surplus And Brightening Fiscal Picture In The Near Future. We can return to surpluses in a few years by sustaining economic growth and following the President's fiscal discipline: fully fund the war on terror and homeland security while slowing spending growth in the rest of government. Like OMB, CBO projects an improving budget picture with a very slight deficit in FY 2005 and a return to balance in FY 2006, but only if spending is restrained.
(Congressional Budget Office, Budget And Economic Update, August 2002)

Senator Torricelli Claimed That "It Isn't Good Economics And It's Worse Politics" To Roll Back The Tax Relief Legislation. "Even so, Mr. Torricelli said, 'I think to advance changing the tax reduction legislation in the midst of recession isn't good economics and it's worse politics.'"
(Alison Mitchell, "Political Memo: A Wary Rank And File Watch Daschle's Attack," The New York Times, January 9, 2002) (Note: Would Torricelli be saying this if he wasn't in a tough re-election fight?)

Senator Breaux Said Rolling Back Tax Relief Would Be "The Worst Thing You Could Do." "I don't think we're going to be reopening with any degree of success the package that we passed last time, Al. I think that the worst thing you can do is increase taxes during a recessionary period. And to go back on that program would, in effect, be a tax increase. But I think there's some things that we can do. I think there's going to have to be balance."
(CNN's "Novak, Hunt And Shields," January 6, 2002) (Note: If only he would cross the aisle!)

Senator Feinstein Defended Tax Relief As "Good Policy" And An Important Step Toward Economic Recovery. '"I think it's good policy to let people keep more of their money.' And Feinstein disputes the notion that the tax cut has had a deleterious effect on the economy. 'Over $1 trillion of that tax cut has not yet gone into effect,' she noted. 'I don't think it worsens the recession at all.' As to Daschle's suggestion, which he would not state directly, that the Bush tax cuts ought to be delayed or reduced, if not repealed altogether, Feinstein strongly disagreed. 'My view is we ought to stay the course,' she said. 'Twenty percent of the Democratic Senate caucus voted for the tax cut.'"
(Editorial, "Recession Rhetoric," Copley News Service, January 7, 2002) (Note: This is truly amazing from the Senior Senator from CA and she is not up for re-election)

Senator Baucus Characterized Tax Relief As "Very Good" For The American People And Described It As A Catalyst For Increased Savings Rates. "This is a very good tax cut. It's a very large tax cut for the American people. It provides additional benefits for people who want to save. It provides additional benefits for families to send their kids to school. It will give about 11 million children help that they otherwise would not receive. It gives a better reduction to lower-income, middle-income taxpayers than they otherwise would receive. This is a very good bill, and I'm very proud of it." (Senator Baucus, Press Conference, May 26, 2001) (Note: Up for Re-election)

Senator Johnson Claimed That Tax Relief Would Bring Economic Benefits To "Hard-Working Families." "From the beginning of this debate, I have stated my strong support for a significant tax cut for South Dakota's hard working families. They need, and deserve, a reduction in their taxes. This bipartisan bill, while not perfect, is a step in that direction. . . . This bipartisan tax cut provides significant tax relief and we still have greater resources to provide for the important priorities facing South Dakota, like shoring up Social Security and Medicare, improving education, assisting agriculture, and improving health care for our veterans . . . ."
(Senator Johnson, Press Release, May 23, 2001) (Note: Would Senator Johnson be saying this if he was not in a re-election battle with Cong Tim Thune?)

Federal Reserve Chairman Alan Greenspan Credited Republican Tax Relief For Spurring Increases In Household Spending. "Household spending was boosted by ongoing increases in incomes, which in turn were spurred by strong advances in productivity as well as by legislated tax reductions and, in recent months, by extended unemployment insurance benefits."
(Alan Greenspan, Testimony Before The Senate Committee On Banking, Housing And Urban Affairs, July 16, 2002)

The Council Of Economic Advisers Describes Tax Relief As An Important Tool For Raising Personal Savings, Attracting Business Development And Creating Jobs. "Reduced tax rates raise workers' take home pay, facilitating household purchases of housing and autos, raising saving[s], and aiding entrepreneurs. Business expensing makes it more attractive for businesses to invest and create jobs."
(CEA, Economic Forum Talking Points, August 12, 2002)

Council Of Economic Advisers Chairman Glenn Hubbard Argues That Repealing Republican Tax Relief Will Hurt Future Economic Growth. "If we rescinded the President's tax cut, we would probably hurt economic growth by about 2/10 of a percentage point over the foreseeable future. That's $1,000 for every man, woman and child in the country over a decade."
(CBS' "Face The Nation," August 18, 2002)

PLEASE CONTACT YOUR SENATORS AND TELL THEM YOU WANT THE TAX CUTS MADE PERMANENT UPON THEIR RETURN TO WASHINGTON AFTER LABOR DAY!

Contact information for all Senators is at

Senator Contact Information">

The United States DemocRAT led Senate Senate is currently putting party over the United States, its military, and all of us citizens. Don't let daschle/clinton/edwards get by with this! Let your Senators know that you will not tolerate this inaction on the budget by the DemocRATS! One way you can do that is at the ballot box in November -- vote out the RATS!

Please volunteer in your local communities for Senator and House Republican candidates -- we need all your help and your votes in November!!!!!!! Don't let the daschle/clinton/edwards trio run the Senate again in 2003!

While you are at it, remind your Senators to vote for Sen Don Nickles (Conservative Republican from OK) for Majority Leader -- we need a leader who will stand up to the likes of daschle/clinton/edwards and Senator Nickles is that man!

Don Nickles would make an outstanding Republican leader in the Senate. I sure hope that if the Republicans do take back the Senate and he is named Majority Leader, that he's not villified as partisan. While Trent Lott has a conservative voting record, his leadership skills are truly lacking.

Excuse me, but WHAT tax cut? Its provisions do NOT even begin to cut in for years yet, they can be revoked or changed at anytime before then at the whim of congress, and they sunset, especially the DEATH tax, which sunsets within a year of when it becomes effective. The bush "taxcut" is a sham and a humbug. A tax cut that is meaningful would become effective IMMEDIATELY on passage, would NEVER sunset and would include cuts in and caps on gooberment spending across the (non-defense) board. I've known tax cuts and this bogus bill is no tax cut.

Thanks for keeping me on the list; I do read it.

I suppose those of us who are as fortunate as us to have two good Republican Senators should try to do something about taking back the Senate in other states. Especially Vermont... Is Jumpin' Jim up for reelection yet?

(BTW, I might not get back to this thread for a couple of days; I've got something important to do tomorrow that might keep me busier than usual until January or so... You know how to include me otherwise!) <:^D

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