I wrote this on how to improve the economy

Bush has been advised that tax cuts for the rich will lift the economy. Why? Rich invest in luxury goods, savings and property. To make a big difference tax cuts would have to be directed to the other 90% who will spend on mass consumption and improvements in their lives with a broad market impact.

There are some things that will help the economy fast - raising the standard deductions is a good start. How about increasing the earned income credit? How about payroll tax adjustments? Refiguring the tax brackets to start with a 5% rate? Reinstate deductions for medical expenses and charitable giving that most people can take.

A Democrat would have jumped the economy on the first tax cut where Bush's trillions of dollars in giveaways had no effect.
Gary Denton on 5/12/2003

I might now add excluding the FICA employee side tax for the first $10,000 of income while raising the income subject to it.