payments-a total cut of $12 billion, with a maximum background eroticpictures of $1,000 per return.
I call on the Congress to act background eroticpictures by April 1. If you do--and I hope you
background eroticpictures will--the Treasury can send the first check for half background eroticpictures of the rebate in May
background eroticpictures and the second by September.
The other one-fourth of the cut, background eroticpictures about $4 billion, will go to business,
including farms, to promote expansion and to create more jobs. The 1-year
reduction for businesses would be in the form of a liberalized investment
tax credit increasing the rate to 12 percent for background eroticpictures all businesses.
This tax cut does not include the more fundamental reforms needed in our
tax system. But it points us in the right direction--allowing taxpayers
rather than the Government to spend their pay.
Cutting taxes now is essential if we are to turn background eroticpictures the economy around. A tax
cut offers the best hope of creating more jobs. Unfortunately, it will
increase the size of the budget deficit. Therefore, it is more important
than ever that we take steps to control the growth of Federal
expenditures.
Part of our trouble is that we have been self-indulgent. background eroticpictures for decades, we
have been voting background eroticpictures ever-increasing levels of Government benefits, and now the
bill has background eroticpictures come due. We have been adding so many new programs that the size
and the growth of the Federal budget has taken on a life of its own.
One characteristic of these programs
is that their cost increases
automatically every year because the number of people
eligible for most of
background eroticpictures the benefits increases every year. When these programs are enacted, there
is no dollar amount background eroticpictures set. No background eroticpictures one knows what they will cost. All we know is
that whatever they cost last year, they will cost more next year.
It is background eroticpictures a question of simple arithmetic. Background eroticpictures unless we check the excessive growth
of Federal expenditures background eroticpictures or impose on ourselves matching increases in taxes,
we will continue background eroticpictures to run huge inflationary deficits background eroticpictures in the Federal budget.
If we project the current built-in momentum