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9/01/00
1:50 p.m. By NR's John J. Miller & Ramesh Ponnuru |
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Too bad the story's about France, which has proposed slashing $16 billion in taxes for corporations and individuals over the next three years. The move follows a $24 billion tax-cut proposal in Germany, and now Italy says it will have a package ready later this month. The Times says France's move is meant to combat rising interest rates and offset a decision to scale back the workweek from 40 hours to 35. Reporter John Tagliabue doesn't cite a single naysayer in his story:
Economists said the French measures should help the whole economy, if indirectly, as tax relief to low-wage earners widens the earnings gap between the lowest-paid employed and the unemployed, raising the incentive for the jobless to seek work. That in turn should relieve the labor market, moderating wage increases. Moreover, fuel tax cuts and lowered social security payments should provide relief to businesses and increase employees' take-home pay. . . . Experts judged the net effect of the French changes positively. Would that the Times had such nice things to say when it came to cutting taxes in America.
Secretary Powell As if the Republicans wouldn't love this. But the Washingtonian does add, intriguingly: "For his part, the younger Powell has told friends he believes the visibility of a Cabinet position would help him reach his ultimate political goal a U.S. Senate seat from Virginia." |
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