LIBERALS' GROWTH PACKAGE TURNS OUT TO BE A MISNOMER

The liberal majority in Congress is trying to use Robin Hood's battle cry, "Rob from the rich and give to the poor!" Unfortunately, the economic growth package that narrowly passed in the House of Representatives this past week isn't even that simple.

Basically, the liberals' tax bill attempts to pull the wool over taxpayers' eyes. They promise us that this bill will give temporary "tax relief" to middle-income taxpayers. This so-called "relief" will amount to about 55 cents per day for the average taxpayer barely the meager pittance of a soda pop and even that will expire after two years. And what they don't necessarily tell us is that they will pay for this "relief" by creating a new, 35 percent tax bracket. Liberals say that this new bracket will affect ~~~only the rich; however, 90 percent of America's hard-working small business owners will be bumped into this higher bracket as a result. Furthermore, liberals claim they are helping "the poor" and "the middle class," but they don't tell us that their bill is so expensive that it will trigger across-the-board cuts in entitlement spending, including Medicare.

Meanwhile, the House Minority Leadership offered an alternative growth package which garnered substantial bipartisan support. The alternative would have created a $5,000 credit for first-time homebuyers. It would have provided businesses with ~an investment tax allowance which speeds up depreciation on new equipment. And, perhaps most -continued importantly, the alternative package wouldn't have added to the deficit, and it wouldn't have triggered cuts. Despite the fact that this plan was supported by Democrats and Republicans alike, the liberals defeated the package.

The United States and its economy need a package that provides stimulus and creates jobs. Tax policy must be crafted to encourage, not stifle, growth and investment. President Bush gave us an outline of an acceptable package more than a month ago. Instead, House liberals decided to ignore the President's plea and put forth a proposal that has serious budget and tax implications.

There is a window of opportunity in all this. The Senate will begin taking a crack at forwarding a sound plan and I hope for our nation's sake they do. Americans do not need higher taxes to jumpstart the economy, nor a political quick-fix that wreaks havoc on the federal budget. Americans need jobs and a growth package that fosters investment and productivity. Both sides of the political aisle need to lay down their arms between each other and turn the fight on what's become America's most talked about beast: a stagnant economy.