PART V: 2001
“If economists were laid end to end, they would not reach a conclusion.”
-[FONT="] [/FONT]George Bernard Shaw
“The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.”
-[FONT="] [/FONT]Thomas Sowell
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“As the dotcom bubble collapse reverberates throughout the economy, it appears that John McCain is preparing a series of tax cuts to stimulate the economy… While McCain is not a believer in supply-side theory, it appears he will be cutting taxes not to raise revenue but for the traditional reasons of countercyclical fiscal policy... Most personal income tax cuts will be focused on the poor and middle class, with the exception of capital gains cuts which will primarily benefit the income of upper-middle and upper class Americans…”
-[FONT="] [/FONT]Newsweek, March 2001
“The success of McCain’s tax legislation has instilled confidence in the new administration… New legislation circulating through the Congress includes a compromise corporate tax reform bill that would reduce loopholes and lower the overall rate… More ambitious is his promise to begin reforming Social Security… While traditionally the left has been strongly opposed to anything that hints of private accounts, the proposed creation of universal 401(k) accounts with matching government grants has found some appeal among progressive economists…”
-[FONT="] [/FONT]New York Times, April 2001
“Just look at the list of targets and planes downed. This is not just an attack on the United States, or even the West. This is an attack upon globalization, on the notion of capitalism itself… An attack on modernity, because wealth and prosperity are its essence…”
- Weekly Standard, September 2001
“If economists were laid end to end, they would not reach a conclusion.”
-[FONT="] [/FONT]George Bernard Shaw
“The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.”
-[FONT="] [/FONT]Thomas Sowell
---
“As the dotcom bubble collapse reverberates throughout the economy, it appears that John McCain is preparing a series of tax cuts to stimulate the economy… While McCain is not a believer in supply-side theory, it appears he will be cutting taxes not to raise revenue but for the traditional reasons of countercyclical fiscal policy... Most personal income tax cuts will be focused on the poor and middle class, with the exception of capital gains cuts which will primarily benefit the income of upper-middle and upper class Americans…”
-[FONT="] [/FONT]Newsweek, March 2001
“The success of McCain’s tax legislation has instilled confidence in the new administration… New legislation circulating through the Congress includes a compromise corporate tax reform bill that would reduce loopholes and lower the overall rate… More ambitious is his promise to begin reforming Social Security… While traditionally the left has been strongly opposed to anything that hints of private accounts, the proposed creation of universal 401(k) accounts with matching government grants has found some appeal among progressive economists…”
-[FONT="] [/FONT]New York Times, April 2001
“Just look at the list of targets and planes downed. This is not just an attack on the United States, or even the West. This is an attack upon globalization, on the notion of capitalism itself… An attack on modernity, because wealth and prosperity are its essence…”
- Weekly Standard, September 2001