Tax Cuts Should Create Growth, Not Junk Spending: Amity Shlaes
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Feb. 23 (Bloomberg) -- Payroll-tax cut equals growth.Consumer spending equals growth. Consumer spending is 70percent of the economy. All growth is equal.
These are the axioms that motivated lawmakers tosecure an extension of a payroll-tax cut this month. Theyfelt like heroes for passing and signing a temporary breakallowing citizens to skip Social Security payments.