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Friday, September 21, 2007

Tax News Roundup

Bloomberg:

CNet News:

Don't Mess with Taxes:

Financial Times:

New York Times:

TheStreet.com:

Talking Taxes:

Washington Post:

Bushism of the midweek.  From yesterday's news conference: "We dealt with a recession, a terrorist attack and corporate scandals. And we did it by cutting taxes."

One more cut in capital gains, and Osama's toast.

UpdateAmerican Thinker:

[The WaPo Bushism] loses some of its witty edge when served up with even a shmeer of context – let’s try some: The president was actually responding to a question about Alan Greenspan’s book criticizing him “for being fiscally irresponsible”:

“I respectfully disagree with Alan Greenspan when it comes to saying that this administration didn't handle the fiscal — fiscal issues we faced in a good fashion. As a matter of fact, we did. The deficit, as a percent of GDP, is low; it's lower than the 30-year average. We have submitted a plan to balance the budget. We dealt with a recession, a terrorist attack and corporate scandals. And we did it by cutting taxes. The tax cuts worked. The economy recovered. People are working. Interest rates are low.”

So the President never really suggested we dealt with 9/11 or corporate scandals by cutting taxes.

http://taxprof.typepad.com/taxprof_blog/2007/09/tax-news-roun-3.html

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Comments

The President's quote makes more sense in context - which is where any responsible reporting by the Post would have put it.
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[Responding to Greenspan's claims in his new book the the Administration didn't handle fiscal crises well]:

“I respectfully disagree with Alan Greenspan when it comes to saying that this administration didn't handle the fiscal — fiscal issues we faced in a good fashion. As a matter of fact, we did.

The deficit, as a percent of GDP, is low; it's lower than the 30-year average. We have submitted a plan to balance the budget. We dealt with a recession, a terrorist attack and corporate scandals. And we did it by cutting taxes. The tax cuts worked. The economy recovered. People are working. Interest rates are low.”

Posted by: Ten Forty | Sep 21, 2007 6:03:28 PM