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Listen, Mainstream Media, Taxes Not Cut Enough

In yet another example of liberal bias by the so-called mainstream media, they have given little notice to comments by the new economics Nobel Laureate, Edward C. Prescott, that President Bush's (R) tax cuts of the past four years were quite small despite the "tax-policy bromides by his opponent John Kerry (D). In an op-ed posted last Friday at Tech Central Station, John Berthoud, President, National Taxpayers Union, discusses the work of Dr. Prescott on the subject. Berthoud notes that according to the winner of the 2004 Nobel Prize in Economic Sciences, "Tax rates were not cut enough." As evidence, he notes the Bush tax cuts will average 0.44% of GDP compared to tax cuts of John F. Kennedy (2.0%) and Ronald Reagan (3.3%).

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