'Tax cut won't work'

©Beaver County Times Allegheny Times 2005, 21 April 2003, page A6

There have been 2 million jobs lost in the past two years.
President Bush has announced that his tax cut will create 1.5 million jobs.
That still leaves 500,000 people not able to find jobs.

Like his last tax cut in 2001 that failed to stimulate the economy and create new jobs, this tax cut proposed by Bush will increase the annual budget deficit, thereby increasing the national debt.
The national debt must be paid.

In addition, like your credit card bills, interest on the national debt will also increase.
This is not constructive.
It is like throwing money down the drain.

All of this means that future generations of Americans will have their taxes increased to pay for spending that will increase the national debt created by the Bush administration today.
This will take more money out of the economy, causing future economic slowdowns.

Let's personalize this scenario.
If you are in your 30s, 40s, or 50s, as a result of Bush's poor fiscal policies the federal government will not have enough money to pay off the national debt and pay Social Security recipients.

Knowing that more and more companies are eliminating or watering down their pension plans and knowing that as many as 66 percent of all Americans will not have adequate funding in their pension plans, the result will be fewer and fewer people retiring.

This does not make me feel good about the new Bush tax cut plan.

Nikola (Nick) Drobac
Aliquippa

http://www.timesonline.com/site/news.cfm?newsid=7770320&BRD=2305&PAG=461&dept_id=478566&rfi=6

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Tax cut now means more taxes to pay in the future

Cumberland Times-News, Monday, April 28, 2003, page 8A

To the Editor:

There have been 2 million jobs lost in the past two years.
The Republicans once boldly stated that government cannot create jobs.
They stated that only the private sector had the ability to create new jobs.

Now, President Bush has announced that his tax cut will create 1.4 million jobs.
That would still leave 600,000 people without work.

Like his last tax cut in 2001 that failed to stimulate the economy and create new jobs, this tax cut proposed by Bush will increase the annual budget deficit thereby increasing the national debt.

In 1994 when the Republicans introduced their infamous contract with America, Newt Gingrich, Trent Lott, Rush Limbaugh, and other Republicans were pushing for a balanced budget amendment.

These and other Republicans demanded a balanced budget every year.
The Republicans wanted a balanced budget even at times of war, recession, depression, etc. In short, “no matter what ... .”

Now around $6.4 trillion, this national debt must be paid.
In addition, like your credit card bills, interest to be paid on the national debt will also increase as the national debt increases.
Interest on the national debt cost American taxpayers $332.5 billion in 2002.
This is not constructive; paying high interest rates on the national debt is like throwing money down the drain.

All of this means that future generations of Americans will have their taxes increased to pay for spending that will increase the national debt created by the Bush administration today.
This will take more money out of the economy causing future economic slow downs.
And to think that Bill Clinton had all of this under control.

Let’s personalize this scenario.
If you are in your 30s, 40s, or 50s, as a result of Bush’s poor fiscal policies, the federal government will not have enough money to pay off the national debt and pay future social security recipients.

Knowing that more and more companies are eliminating or watering down their pension plans, and knowing that as many as 66 percent of all American will not have adequate funding in their pension plans, the result will be fewer and fewer people retiring.

This does not make me feel good about the new Bush tax cut plan.

Nikola (Nick) Drobac
Oakland, MD

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Pay our debt

The Pittsburgh Post-Gazette, 12 May 2003, page A16

There have been 2 million jobs lost in the past two years.
The Republicans once boldly stated that government cannot create jobs.
They stated that only the private sector had the ability to create new jobs.
Now, President Bush has announced that his tax cut will create 1.4 million jobs (White House on Tax-Cut Road Tour, April 16).
That would still leave 600,000 people without work.

Like his last tax cut in 2001 that failed to stimulate the economy and create new jobs, this tax cut proposed by Bush will increase the annual budget deficit, thereby increasing the national debt.
In 1994 when the Republicans introduced their infamous contract with America, Newt Gingrich, Trent Lott, Rush Limbaugh, and other Republicans were pushing for a balanced budget amendment.
These and other Republicans demanded a balanced budget every year.
The Republicans wanted a balanced budget even at times of war, recession, depression, etc.
In short, "no matter what..."

Now around $6.4 trillion, this national debt must be paid.
In addition, like your credit card bills, interest to be paid on the national debt will also increase as the national debt increases.
Interest on the national debt cost American taxpayers $332.5 billion in 2002.
This is not constructive; paying high interest rates on the national debt is like throwing money down the drain.

All of this means that future generations of Americans will have their taxes increased to pay for spending that will increase the national debt created by the Bush administration today.
This will take more money out of the economy causing future economic slow downs.
And to think that Bill Clinton had all of this under control.

Nikola (Nick) Drobac
Aliquippa, PA

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SOURCE for all of the above:

http://www.publicdebt.treas.gov/opd/opdint.htm

http://www.publicdebt.treas.gov/opd/opdpdodt.htm

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