Bush Tax Cut
After a great 8 years under President Clinton's fiscal discipline in the government, we have had a great economic surplus that included other huge surpluses as well. President Bush wants a huge tax cut that obviously can increase interest rates and recreate the loss of consumer and business confidence that had the same deficits during the late 80's and early 90's. While President Bush's proposed tax cut of roughly $2 trillion seems extremely favorable, the reality is that it will hurt the future of our country greatly. Robert E. Rubin, former Secretary of the Treasury, knows a lot about our money and can easily see that President Bush's huge tax cut can create a huge error in economic policy. When looking over the last 20 years and how we have done with fiscal discipline and without fiscal discipline, we can find many clues that our nation has benefited from fiscal discipline. First off, we have gained greatly when our nation has been committed to fiscal discipline and lose gr
eatly when it is not. Another reason is that we have a huge duty to not pass on the burdens of a huge national debt and recession to the next generation, when we can act and stop problems from happening today. I feel that President Bush's tax plan will do nothing but put us in more debt. It is extremely reminiscent of Reagan's horrible tax cut that quadrupled our debt and built the huge deficit that we had in the 80's. By easily looking over what has happened in the past 20 years with and without fiscal discipline, it can easily be seen that the years under Clinton and his fiscal discipline policies have contributed greatly to our economic success as the World's leading power. It has created great job opportunities, lower inflation, and much lower unemployment rates. It is also important to look at the future of my generation who would be harmed greatly with Bush's large tax cut. Instead of Mom's and Dad's around the U.S. jumping up and down with happiness as they think about
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Approximate Word count = 662
Approximate Pages = 3 (250 words per page double spaced)
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