December 05, 2002

Newspaper accounts suggest that the double taxation of dividends is high on the White House priority list. By all accounts the sole dissenting group is that of the Treasury Department whose main focus seems to be a static analysis. The Treasury seems to have forgotten that Dick Darman and David Stockman have no room in this administration. Why would the Treasury spouse the views of people that have been banished form the inner circle? The Treasury’s two key arguments are that the personal rate cuts will not help businesses and that we cannot afford the rate cut. The Treasury is wrong on both counts.

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