James Gibson Blasts Rod Grams and the Republican Party Over Tax Cut

James Gibson, the Reform Party U.S. Senate candidate, blasted Rod Grams and the Republican Party for passing "inappropriate and irresponsible" tax cut legislation. "You would think, " Gibson said, "that after quadrupling national debt from about $1 trillion to over $4 trillion in less than 20 years, our leaders would have the common sense to use the emerging budget surpluses to repay this debt. Instead, at the first sign of a budget surplus, they scramble to cut taxes."

"The Republican Party used to be a party of fiscal responsibility," Gibson said. "It is now a party that follows blind ideology to the detriment of sound economic policy. We are already as a nation consuming too much and saving too little. Tax cuts only compound that problem. The average family has much more to gain from an economy with higher savings, and hence lower interest rates, greater investment, and faster growth in wages and salaries, than from a tax cut."

"Nor am I impressed with Clinton's plan of a more modest tax cut. It's time to pay our bills. Period. We ought not to be transferring this liability to our children."

"I am also appalled by misleading statements being made by those pushing the tax-cut agenda," Gibson said. "Rod Grams was recently quoted in the Star Tribune as stating there was more than a $3 trillion surplus. He is surely aware that the $3 trillion number includes approximately $2 trillion in funds being set aside for Social Security. Only $1 trillion over the next 10 years is in any way discretionary, and that's the number that ought to be used in any kind of honest dialogue."

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