Governor Bush’s Tax Cut Moves in the Right Direction by Keeping Money Out of Washington and Simplifying the Code
CSE believes tax relief is needed and fair. Americans are paying the highest taxes in history and we have record budget surpluses. If we can’t cut taxes now, when can we?
Governor Bush has proposed a $483 billion tax cut. The tax cut provides all working Americans with tax relief. It reduces the marriage penalty and eliminates the death tax.
If the money stays in Washington, the politicians will find ways to spend it on bigger government. Congress and the administration have already busted the budget caps for the past two years — and President Clinton has already announced he plans to do it again next year.
Governor Bush, by providing substantial tax relief, will give the money back to whom it belongs — the American people.
By reducing marginal tax rates and eliminating some of the worst aspects of the code, the Bush proposal moves in the right direction of scrapping the code and providing fundamental tax reform. It is a solid down payment on fundamental reform.
Unfortunately, Governor Bush has not chosen to talk about his plan as a first step. With more than 50 percent of Iowa voters supporting fundamental tax reform, Governor Bush would be wise to talk about what his plan should be: A first step toward scrapping the code.