Jeb Bush co-authors op-ed in 'Wall Street Journal'; Sen. Bill Nelson pens one for 'POLITICO'
Former Florida Gov. Jeb Bush waded into the national economic debate with an opinion piece in today's Wall Street Journal, co-authored by Kevin Warsh, a former Federal Reserve governor.
In the column, "A New Strategy for Economic Growth,'' Bush and Warsh say budget cuts are essential, but "we will never cut our way to prosperity.'' They argue for a grand strategy of growth, and say, "The strategy is a threat to those who take refuge in our burdensome tax code, and it is a great source of encouragement to those who seek higher rates of return on physical and human capital. Hence, fundamental tax reform—dramatically lowering tax rates for individuals and companies while eliminating loopholes, deductions and credits—is critical to economic growth.''
Meanwhile, Democratic U.S. Sen. Bill Nelson writes an opinion piece for POLITICO about the S&P downgrade, the debt and possible fixes. "Close the tax loopholes," makes the case that "there’s no mystery about what we have to do. It’s just common sense. In addition to the spending cuts Congress just made, we need tax reform. And by tax reform, I mean closing loopholes, special interest tax breaks and corporate subsidies. It’s just plain wrong to be protecting tax breaks for oil companies and to be rewarding businesses that ship jobs overseas."