September 18, 2001 05:35 PM | | Bookmark and Share

1. Due to the terrible events of September 11, the federal government will need to spend considerably more than previously anticipated to pay for anti-terrorism efforts and to aid our faltering economy.

2. These new emergency spending requirements have made the Bush tax cuts even more unaffordable.

3. Therefore, it is only prudent to impose a freeze on the future phase-ins of the Bush tax cuts.

4. Even if the freeze applies only to the future income tax rate reductions and estate tax cuts, it could save close to $500 billion in fiscal 2003 through 2011. Fully phased in, some 84 percent of these frozen tax cuts would otherwise go to the best-off one percent of all taxpayers.

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