Thursday, September 29, 2005

Porkbusters versus give back the tax

Two Cornell professors have equated pork with the tax cuts. That is nonsense. Indeed, some of the provisions of the tax cut could be seen as "expenditures" and some of them might even be subject to being delayed. But the fundamental principles of the Bush tax cut - including changes in rates, eliminiation of the death tax and better treatment of capital gains - are important for the economy. Building a bridge to nowhere in Alaska or subsidizing enthanol is not equivalent to lowering the cost of capital gains.

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