High Taxes Are Not What's Ailing The U.S. Economy

As the President's State of the Union Message demonstrates, there's little doubt that most Americans will be proffered some sort of tax relief by November. Politicians don't have to read the opinion polls to know that the American people's traditional hostility to taxes has been exacerbated because the latest round of tax increases--at federal, state, and local levels--occurred in the middle of a recession. Tax cuts, they argue, will not only assuage those feelings but also provide the fiscal thrust needed to get the economy moving.

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