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Fred Thomas -- Wall Street Journal April 13, 2007 ---

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  • steven s.
    I am liking this man more and more steve Case Closed: Tax Cuts Mean Growth By FRED THOMPSON April 14, 2007; Page A9 It s that time again, and I was thinking of
    Message 1 of 4 , Apr 15, 2007
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      I am liking this man more and more  

      steve




      Case Closed: Tax Cuts Mean Growth

      By FRED THOMPSON
      April 14, 2007; Page A9

      It's that time again, and I was thinking of the old joke about paying your taxes with a smile. The punch line is that the IRS doesn't accept smiles. They want your money.

      So it's not that funny, but there is reason to smile this tax season. The results of the experiment that began when Congress passed a series of tax-rate cuts in 2001 and 2003 are in. Supporters of those cuts said they would stimulate the economy. Opponents predicted ever-increasing budget deficits and national bankruptcy unless tax rates were increased, especially on the wealthy.

      In fact, Treasury statistics show that tax revenues have soared and the budget deficit has been shrinking faster than even the optimists projected. Since the first tax cuts were passed, when I was in the Senate, the budget deficit has been cut in half.

      Remarkably, this has happened despite the financial trauma of 9/11 and the cost of the War on Terror. The deficit, compared to the entire economy, is well below the average for the last 35 years and, at this rate, the budget will be in surplus by 2010.

      Perhaps the most fascinating thing about this success story is where the increased revenues are coming from. Critics claimed that across-the-board tax cuts were some sort of gift to the rich but, on the contrary, the wealthy are paying a greater percentage of the national bill than ever before.

      The richest 1% of Americans now pays 35% of all income taxes. The top 10% pay more taxes than the bottom 60%.

      The reason for this outcome is that, because of lower rates, money is being invested in our economy instead of being sheltered from the taxman. Greater investment has created overall economic strength. Job growth is robust, overcoming trouble in the housing sector; and the personal incomes of Americans at every income level are higher than they've ever been.

      President John F. Kennedy was an astute proponent of tax cuts and the proposition that lower tax rates produce economic growth. Calvin Coolidge and Ronald Reagan also understood the power of lower tax rates and managed to put through cuts that grew the U.S. economy like Kansas corn. Sadly, we just don't seem able to keep that lesson learned.

      Now, as before, politicians are itching to fund their pet projects with the short-term revenue increases that come from tax hikes, ignoring the long-term pain they always cause. Unfortunately, the tax cuts that have produced our record-breaking government revenues and personal incomes will expire soon. Because Congress has failed to make them permanent, we are facing the worst tax hike in our history. Already, worried investors are trying to figure out what the financial landscape will look like in 2011 and beyond.

      This issue is particularly important now because massive, unfunded entitlements are coming due as the baby-boom generation retires. We simply cannot afford higher taxes if we want an economy able to bear up under the strain of those obligations. And beyond the issue of our annual federal budget is the nearly $9 trillion national debt that we have not even begun to pay off.

      To face these challenges, and any others that we might encounter in a hazardous world, we need to maintain economic growth and healthy tax revenues. That is why we need to reject taxes that punish rather than reward success. Those who say they want a "more progressive" tax system should be asked one question:

      Are you really interested in tax rates that benefit the economy and raise revenue -- or are you interested in redistributing income for political reasons?

      Mr. Thompson is a former Republican senator from Tennessee whose commentaries, "The Fred Thompson Report," can be heard on the ABC Radio network.

    • rlcmcallen
      A good actor with a good script writer who can afford the right agents and publicists can look like almost anybody. I m not interested in what role he chooses
      Message 2 of 4 , Apr 15, 2007
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        A good actor with a good script writer who can afford the right agents
        and publicists can look like almost anybody. I'm not interested in
        what role he chooses to play for the election. I want to know what he
        IS inside. What is the record of his life? That is all that counts.

        Thompson sounds more like Rush Limbaugh than Ron Paul.




        --- In RLC-Action@yahoogroups.com, "steven s." <crestln@...> wrote:
        >
        >
        > I am liking this man more and more
        >
        >
        > steve
        >
        >
        >
        >
        > Case Closed: Tax Cuts Mean Growth
        >
        > By FRED THOMPSON
        > April 14, 2007; Page A9
        >
      • steven s.
        In some areas, Rush has it all over Ron Paul -- ESPECIALLY the critical issue of PRACTICAL politics as well as attracting a following. Reagan had both,
        Message 3 of 4 , Apr 15, 2007
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          In some areas,  Rush has it all over Ron Paul -- ESPECIALLY  the critical issue of PRACTICAL politics as well as  attracting a following.  Reagan had both,  but in today's world  Ron Paul is a mistake.  He does not see the threat from islamics and thus is not focusing on what freedom and liberty are all about.

          steve



          rlcmcallen wrote:

          A good actor with a good script writer who can afford the right agents
          and publicists can look like almost anybody. I'm not interested in
          what role he chooses to play for the election. I want to know what he
          IS inside. What is the record of his life? That is all that counts.

          Thompson sounds more like Rush Limbaugh than Ron Paul.

          --- In RLC-Action@yahoogro ups.com, "steven s." <crestln@... > wrote:
          >
          >
          > I am liking this man more and more
          >
          >
          > steve
          >
          >
          >
          >
          > Case Closed: Tax Cuts Mean Growth
          >
          > By FRED THOMPSON
          > April 14, 2007; Page A9
          >

        • Dave Nalle
          ... By all accounts he was quite a good lawyer. That s my contribution. Dave -- Scriptorium Fonts: http://www.fontcraft.com Ragnarok Press:
          Message 4 of 4 , Apr 15, 2007
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            >A good actor with a good script writer who can afford the right agents
            >and publicists can look like almost anybody. I'm not interested in
            >what role he chooses to play for the election. I want to know what he
            >IS inside. What is the record of his life? That is all that counts.

            By all accounts he was quite a good lawyer. That's my contribution.

            Dave
            --

            Scriptorium Fonts: http://www.fontcraft.com
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