Tuesday, September 16, 2008

Tax Cuts vs. Debt Reduction

More to come on this topic, but recently Greenspan was asked if he favord across-the-board taxcuts that would result in a net loss in revenue, a la the cuts Sen. McCain proposes. His response: “I’m not in favor of financing tax cuts with borrowed money,” (which is exactly what "W" has done, and what Mac proposes). Bottom line: Debt Reduction is more important for investment and growth than willy-nilly tax cuts. See also: classic fiscal conservatism.

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