Monday, August 23, 2010

On Tax Policy

Letter to The Lima News:

Your editorial "Reagan's Wisdom on Cutting Taxes" really missed the boat. You failed to mention that Reagan's tax cuts, combined with his military spending, resulted in massive budget deficits which tripled our national debt.

Alan Greenspan recently spoke to this issue, saying "I don't agree with paying for tax cuts with borrowed money". Greenspan concluded that "At the end of the day, that proves disastrous."

I agree with Greenspan.

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