Greenspan Suggested Cutting Taxes on the Wealthy to Increase Debt so the Fed Wouldn’t “Lose Control of Monetary Policy”
Back in January 2001, just as George W. Bush was entering office, Federal Reserve Chairman Alan Greenspan was worrying; If the U.S. totally paid off its debt, it would no longer need to sell off Treasury bonds to borrow money. To avoid that scenario, Greenspan ended up endorsing tax cuts as a way of reducing surpluses. The Bush administration happily obliged
read the entire story on NPR.
life after debt, secret fed document on the debt.
Don't let anyone tell you taxes on the rich won't help to pay down the debt. Greenspan favored Tax Cuts To Reduce the Surplus and increase the debt. If we tax the rich, we can restore fiscal sanity.
Opponents of tax cuts are dismayed that Federal Reserve Board Chairman Alan Greenspan supports reductions in the federal tax burden. His reasoning implies that paying off the national debt is not a good idea.
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