Mike Forster's Position Papers - Tax Cut Was Hypocritical

Bush tax cut was hypocritical and ill-advised.

Mike Forster, Palo Alto California
Copyright © 2002 Mike Forster

President's Bush's tax cut in 2001 was hypocritical - it did not actually return tax money to taxpayers.

Yes, checks were issued to millions of taxapayers. However, this was a short-term benefits for appearances only - in reality, it was only a loan to these taxpayers.

A tax cut works only if government then reduces spending to match. The President and Republican-controlled House of Representatives have made no obvious effort to reduce spending to match the tax cut and to preserve the surpluses of the Clinton administration.

So, the result is that this tax cut directly contributes to a larger national debt. The same taxpayers - or worse, their children and grandchildren - will have to pay it back, with interest.

Of course, the economic downturn and the 9/11 attack on America and the world have had their own effects on the federal budget and deficit. No one could have predicted those exactly. However, prudence should have guided the Bush adminstration to preserve the tax revenues in case of unexpected events - "saving for a rainy day" is useful advice.