do the tax breaks work? Well, not according to Howard Dean and Al Sharpton and Wesley Clark and all the other liberal left running for President. But a funny thing happened in the economy. Last month, the numbers came out. The gross domestic product increased 7.2 percent. The economic growth rate, one of the highest since 1984 when Ronald Reagan was President, right after he had cut taxes. The jobless claims have decreased. More people are working and there has been a surge in productivity. Do tax cuts work? Well, the economy and the economic numbers that are just out say, yes, they do. People are working. Revenues are up. Why do they work? Because if a worker has more money in his pocket then he is going to go out and spend more. Small businesses will respond by increasing their inventory. When they do that and demand goes up, they hire more people. When more people are hired, more people are paying taxes and fewer people are on welfare depending on government checks. Tax breaks work.
Jack Kingston: “do the tax breaks work? Well, not according to Howard Dean and Al Sharpton and Wesley Clark and all the other liberal…”
On the recordNovember 6, 2003
Source
govinfo.govEditor's note · Context
Discussing the effectiveness of tax breaks and their impact on the economy.
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