- n. the act of reducing taxation
“But, just as it became evident that we needed more cuts, the coalition that had come together to pass the twenty-five-percent, three-year tax cut and the Gramm-Latta budget reductions began to disintegrate.”
“I sent to Congress a bill calling for an across-the-board thirty-percent tax cut over three years.”
“If these conditions do not hold-if nobody outside Washington is really paying attention to the substance of the bill, if the true costs of the tax cut are buried in phony accounting and understated by a trillion dollars or so-the majority party can begin every negotiation by asking for 100 percent of what it wants, go on to concede 10 percent, and then accuse any member of the minority party who fails to support this “compromise” of being “obstructionist.””
“Economic researchers say the turnaround began in November 1982, exactly one year after the first phase of the three-year, twenty-five-percent tax cut went into effect.”
“That plan proposed a fifteen-percent tax cut over two years, distributed most of the benefits to low-income people, and excluded many of the pump-priming features I felt were needed to encourage business investment and give a jolt to the economy.”
“That's right, Missouri - John McCain is so out of touch with the struggles you are facing that he must be the first politician in history to call a tax cut for working people "welfare.”
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