President George W. Bush wants Congress to pass a budget for fiscal year 2004 whose centerpiece is a $726-billion tax cut (over ten years). The president plans to eliminate the tax on most stock dividends and accelerate already scheduled tax reductions for those in the higher brackets. Bush has called his proposal "bold," and that is certainly one word for it. Others call it irresponsible, or even "fiscal insanity."
Bush, lest we forget,...
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