I am sick and tired of President Clinton's continual lying about the Republican tax cut proposal. He says that a $792 billion cut implemented over a 10-year period is too large and will destroy Social Security and Medicare, and seriously undermine the educational system and defensive readiness of our country. Let's take a look at the numbers.
Our federal government takes in nearly $1.8 trillion per year in taxes. The $792 billion spread over 10 years is $79.2 billion per year. That $79.2 billion is 4.4 percent of $1.8 trillion. So, if President Clinton is telling the truth, a 4.4 percent decrease in annual revenue will break this country's entire economic system. I find this hard to believe.
I suggest that Americans take everything this president and his administration says with a grain of salt. When you hear these large numbers thrown out, don't believe them until you do the math. Many times I've found that the numbers don't agree with the statements made concerning them.
I find it ironic that for so many years the Democrats told us we couldn't have a tax cut because we had deficits. Now we have projected budget surpluses and we're told we can't have a tax cut because it will undermine the nation's economy. My question is "When can we have a tax cut?"
Donald Thorstad, Augusta