March 07, 2001

The battle over personal income tax rate cuts has been long-lived. However, since the Presidents recent budget speech, it has moved to the forefront of the talk shows. The day following the speech there was an interesting debate on Crossfire between Congressmen Charles Rangel and J.C. Watt. Many claims were made on both sides of the argument, however there was one statement by J.C. Watt that caught our attention. He pointed out that, during the presidential campaign, the Bush plan was labeled a risky scheme that would give 99% of the tax cut to the wealthiest 1% of taxpayers. Then-candidate Bush argued that the people who pay most of the income tax should be the ones receiving the tax relief, an argument we support.

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