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Gene LaBargeJan 16, 2002 President Bush has called on Congress to swiftly pass his economic plan. This plan is thorough and fair. The goals of the plan are to encourage consumer spending, promote investments that will lead to job creation and provide help to the unemployed. The liberals attack the plan by saying it is for the rich. The truth is, it helps those who pay taxes, especially the middle class. This plan is about tax relief. It’s not welfare. If you pay taxes, you get to pay less. 92 Million taxpayers will receive an average of $1,083 in 2003. The plan would move millions into the lowest tax bracket of 10% this year. Job creation is encouraged by ending the double taxation of dividends. Some 35 million Americans receive taxable dividend income. Half of dividend income goes to senior citizens, who rely on this for much of their retirement income. Another reason liberals will cry is because ultimately this could mean some social programs will lose funding. That’s not a bad thing regardless of whether or not there is tax relief. Far better to pour some money back into the Clinton starved military. Some Democrat leaders now say they would like a one time tax cut or refund. While that is a complete reversal over their “no tax cuts” beliefs, it will not work. If people know they are only going to get their money back one time, they will hang on tight to it. Only if they know they can count on the money in the future will they invest it in the economy. It’s just common sense. President Bush inherited a faltering economy. The attacks of 9/11 made the turnaround even more difficult. There are still some things that can be done to improve the economy, but the President has the right plan at the right time. ------------ Gene LaBarge is an aspiring political commentator and publisher of several websites including abfnews.com. Email Gene: abfnews@abfnews.com Comment on this column in the forum. ------------ |
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