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From: orb@whuxl.UUCP (SEVENER)
Newsgroups: net.politics
Subject: Re: Revenues vs. spending: calculated per person
Message-ID: <827@whuxl.UUCP>
Date: Mon, 18-Nov-85 11:00:46 EST
Article-I.D.: whuxl.827
Posted: Mon Nov 18 11:00:46 1985
Date-Received: Tue, 19-Nov-85 02:47:15 EST
References: <602@drutx.UUCP>
Organization: AT&T Bell Laboratories, Whippany
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Those are interesting figures for overall tax receipts and
government expenditures, Dave.  But once again you are
evading the question of the effect of the 1981 tax cuts
on federal revenues which was my point.  Your only
figures on those revenues specifically contradict mine.
I am not sure how to account for the discrepancy.
As you are probably aware a number of states adopted tax
increases in the last few years to make up for losses
of federal revenue sharing and other federal funds.
 
The revenues lost because of the 1981 tax cuts amount to
hundreds of billions of dollars - a major contibutor to
the trillion dollars that Ronald Reagan has added to the
federal debt.  Indeed Ronald Reagan has added more to the
federal debt than all Presidents from Washington to Carter
combined.  We will pay the price for this eventually.
Francisco Modigliani, the recent Nobel prizewinner in 
Economics, says that while deficits are not always bad,
the incredible size of the current deficits is robbing from
our children and future generations for temporary gains.
If we do not pay the bill now, we and our children will pay
the bills later.
 
      tim sevener  whuxn!orb