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FYI
-------- Original Message --------
Subject: TUA News Release: Bush Tax Cut Too Small
Date: Mon, 15 Jan 2001 09:50:07 -0800
From: Jim Tobin <ntui@megsinet.net>


TUA NEWS RELEASE
TAXPAYERS UNITED OF AMERICA
59 E. Van Buren, Suite 2517
CHICAGO, ILLINOIS 60605  *  (312) 427-0087  *  FAX (312) 427-5139


FOR RELEASE: Monday, January 15, 2001
Contact:  Jim Tobin     (312) 427-0087 or (312) 719-8650

BUSH'S "MASSIVE" TAX CUT TOO SMALL, SAY TAXPAYERS

        CHICAGO? The leader of Taxpayers United of America (TUA) said
today
that President-elect George W. Bush's proposed tax cut is actually
smaller than it should be, despite claims to the contrary in much of
the mainstream press.

        "We've all heard this great hue and cry from the Democrats and
the
media warning that Bush's �enormous' tax cut will harm the economy,"
said Jim Tobin, president of TUA. "Nothing could be further from the
truth."

        "First of all, the economic evidence shows that tax cuts will
help
bolster the economy. If income tax rates are lowered, both businesses
and individuals will have more incentive to increase production. The
Gross Domestic Product (GDP) will go up as a result, and federal
revenue will be higher than it would if the government misses this
opportunity and lets the economy go downhill. The current 'Social
Security surplus' will be well protected by this economic growth."

        "Secondly, all of the glowing reports about the growing budget
surplus assume that Congress can resist the temptation to spend the
surplus on pork," Tobin continued. "Experience tells us that
politicians can't be trusted to do that. This is why Federal Reserve
Chairman Alan Greenspan has said he'd rather the surplus went to tax
cuts than further spending."

        "Finally, the Bush tax cut is actually very small. Spread out
over 10
years, that $1.3 trillion works out to 0.9 percent of the GDP, or
about 1/4 the size of Ronald Reagan's 1981 tax cut. Federal taxes have
been raised so much since 1990, the average taxpayer would just break
even after the first five years of George W's plan."

        The National Taxpayers Union (NTU) reports that the total
reduction
in taxes at the midpoint of Bush's 10-year plan would be just under
the sum of the elder George Bush's 1990 tax hike and Bill Clinton's
1993 tax increase combined.

        "The budget surplus exists because the people are overtaxed,"
concluded Tobin. "That money rightfully belongs to the taxpayers, and
it will do the economy much more good in their hands than in the claws
of the pork-happy politicians on Capitol Hill."


Founded in 1976, TUA is one of the largest taxpayer organizations in
Mid-America.
###


--
END the Republicrat Collusion!
"May I see the legislative implementing regulation for that statute?"