Townhall.com, Where Your Opinion Counts
Talk Radio:   Bill Bennett   Mike Gallagher   Dennis Prager   Michael Medved   Hugh Hewitt   
BREAKING NEWS  LeftArrow - Townhall.com : Conservative, Political, Republican   RightArrow - Townhall.com : Conservative, Political, Republican  
Columns, funnies & more in your inbox!
  • Check the boxes and send us your email address to receveive your free newsletter
  • Your daily must-read of conservative columns, cartoons and news. Coulter, Sowell, Krauthammer and more.
  • Townhall.com’s weekly inside scoop on what’s happening behind the scenes in the world of politics. When news breaks, we report.
  • Signup to receive the latest daily Townhall cartoons
Thursday, January 24, 2008
Donald Lambro :: Townhall.com Columnist
For GOP, Economy Roils Election-Year Politics
by Donald Lambro
Vote on It:
Average Vote:
[+] Text [-]
 
Poll
Will the Dems' health care Christmas Present to America be an improvement or detriment to our health care system?


But the Club for Growth, the GOP tax-cut advocacy group, flatly rejects the Bush plan, saying its provisions "are likely to do little to stimulate the economy."

Instead, "we would make the 2001 and 2003 tax cuts permanent," cut the corporate tax rate and lower taxes on capital gains, said Pat Toomey, the group's president.

Last week, Mitt Romney also called for a much bigger stimulus than the president proposed, including permanently cutting the lowest income-tax bracket, dropping the corporate tax to 20 percent and ending the payroll tax for workers over 65.

"The kind of stimulative actions (needed) should be pro-growth," rather than "just writing checks for people to buy oil or TVs," Romney said.

Economist Douglas Holtz-Eakin, who is advising John McCain, rejects Democratic proposals to fill the stimulus bill with public works and social-welfare spending. "We don't want to have a big spending program. We are spending too much already," he told me.

"What we've got right now is the sensation that people are scared and want to be convinced things are being done to strengthen the economy," he said. "Tax relief is a sensible step, putting money into the hands of middle-class families by lowering marginal tax rates. That would be an especially good thing to do right now."

Harvard economist Martin Feldstein, who advised President Reagan, is also calling for more substantive tax cuts "to be enacted now but triggered by what happens to the economy. It could be an across-the-board cut," he said.

Clearly, Congress must act boldly and quickly, job attributes that are in short supply on Capitol Hill right now. There will be a lag time here, too. Still, with its public-approval scores at record lows in an election year and daily signs of a weakening economy, maybe our lawmakers will surprise us, but don't hold your breath.

1 2
| Full Article & Comments | < Previous
Share:
Vote on It:
Average Vote:
 
About The Author

Donald Lambro is chief political correspondent for The Washington Times.

Be the first to read Donald Lambro's column. Sign up today and receive Townhall.com delivered each morning to your inbox.

wally
Without the intervention of the government forcing the need for all those accountants the 'invisible hand' would push all those smart people into doing something that actually added to our economy. Dick Armey called the government's affect on the economy the 'invisible foot', an apt portrayal. There are millions of people in our workforce that don't really add anything that is real. Imagine the quality of life if the government would get out of the way.

pianogirl Does Ron Paul get it?
Maybe he does, I don't know, but it won't make a lot of difference unless he stays in the congress where he can actually influence legislation. It is clear that he won't be our next president.

I don't doubt that Paul understands the constitution. Mitt Romney understands management and the economy. What we need is a good team.
Sign Up to Post Your CommentsSign Up to Post Your Comments
If you are already registered, click here to login. Otherwise, please take a few seconds to register with Townhall.com. Once you sign up, you’ll be able to post your comments immediately, use the action center, get podcasts, and more!
Note: Fields marked with a red asterisk (*) are required.
Salutation:
First Name:
*
Last Name:
*
Email:
*
Nickname:
*
Note: Nick name will be shown when you post comments.
Address 1:
*
Address 2:
City:
*
State:
*
Zip:
*
Phone:
      
Your daily must-read of conservative columns, cartoons and news. Coulter, Sowell, Krauthammer and more.
(Bi-Weekly) We highlight the best opportunities from our partners for surveys, action items and more.