Kemp-Roth Tax Cut - Factbites

Kemp-Roth Tax Cut - Factbites
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Topic: Kemp-Roth Tax Cut

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	Jack Kemp - Wikipedia, the free encyclopedia
		His legacy includes the Kemp-Roth Tax Cut of the 1980s, also known as the first of the two "Reagan tax cuts."
		Jack Kemp began his professional football career in 1957 when he was selected by the Detroit Lions in the 17th round of the NFL Draft.
		Kemp represented the Buffalo, New York region in the United States House of Representatives from 1971 to 1989.
	en.wikipedia.org /wiki/Jack_Kemp (449 words)

	William V. Roth, Jr. - Wikipedia, the free encyclopedia
		Roth is best remembered as a strong advocate of tax cuts, and he co-authored the Kemp-Roth Tax Cut in 1981 with Jack Kemp.
		Roth was also the legislative sponsor of the individual retirement account plan that bears his name, the Roth IRA, and was known as a fiscal conservative.
		Born in Great Falls, Montana, Roth attended public schools in Helena and graduated from the University of Oregon in 1943 and Harvard Business School in 1947.
	en.wikipedia.org /wiki/William_Roth (267 words)

	Kemp-Roth Tax Cut
		The Kemp-Roth Tax Cut (officially the Economic Recovery Tax Act ERTA) of 1981 reduced marginal income tax in the United States rates by 25% over three years indexed them for inflation (though indexing was delayed until 1985).
		Supporters of the tax also argue using the Laffer curve that the tax cuts increased government This is hotly disputed--critics contend that although income tax receipts did rise it was due to economic not caused by the tax cuts and have risen more if the tax cuts not occurred.
		Critics blame the tax cuts for the in the budget of the United States in the 1980s and early 1990s.
	www.freeglossary.com /Kemp_Roth_Tax_Cuts (362 words)

	MacroWeb - A Project from Dave Tufte's Macroeconomics for Business Decisions Class
		The Reagan Kemp-Roth tax rate cut along with contractionary monetary policy utilized to combat inflation sparked a boom in the economy that lasted throughout the rest of the decade.
		Tax cuts were backed by a new breed of economic thought that became prevalent at the time called supply-side economics, which reasoned that high tax rates were stifling the economy by decreasing incentives for people to earn, invest, and save more.
		The tax bill involved cutting the maximum marginal income tax rate from 70% to 50% effective January 1, 1982.
	www.suu.edu /faculty/tufte/MacroWeb/Reagan_Kemp_Roth_Tax_Cuts.html (314 words)

	SSU Lesson 17: The Politics of Surplus
		Kemp goes to the trouble of disclosing the giant surpluses that are emerging as the result of the Reaganaut tax cuts, the 1997 tax cuts, and the Greenspan Fed, and his fellow Republicans are silent, lest anyone pay attention to him.
		Kemp -- with the assistance of the most experienced Reaganauts in the budget field -- is firing a broadside at the budget balancers in the GOP who are trying to avoid tax cutting in order to pay down the national debt.
		Kemp would use another $200 billion of that to restore the tax rates that obtained in the last year of the Reagan administration, before Presidents Bush and Clinton passed their totally unnecessary tax increases, which only slowed the process by which we now arrive at these huge surpluses.
	www.polyconomics.com /searchbase/sp98l17.html (2730 words)

	Newhouse B1
		The famous Reagan income tax cuts of 1981 grew out of the Kemp-Roth tax-cut proposals, which first surfaced in the late 1970s.
		Tax Cut, both nationally and here in a state where business interests are dominant and tax cuts are the coin of the realm.
		As chairman of the Senate Finance Committee -- overseer of tax, Social Security and Medicare matters -- Roth gives tiny, dismissed Delaware more clout in the nation's capital than it has had in decades.
	www.newhousenews.com /archive/story1b102500.html (1350 words)

	Congressman's Report, Vol. XIX, No. 2: June, 1981 -- Staring Down Reality
		Cuts in some federal programs could worsen the situation, and shifting a tax burden from one level of government to another is not cutting spending.
		If we are to cut taxes, let's cut in favor of equity: reduce the "marriage penalty," cut the rate on investment income, reduce estate and gift taxes and increase tax incentives for retirement savings.
		And prominent economists identified with both major political parties have written lengthy and scholarly pieces for newspapers and magazines and their message has been the same: this is not the time for an across-the-board tax cut.
	dizzy.library.arizona.edu /branches/spc/udall/congrept/97th/8106.html (1938 words)

	Former Senator Bill Roth Dies
		He co-authored the Kemp-Roth tax cut of 1981 and introduced a retirement savings plan that bears his name: The Roth IRA tax-free savings account.
		"Sen. Roth's work in the areas of reducing taxes, balancing the federal budget, reforming government, leading foreign relations and preserving the environment are well-known," said Delaware Gov. Ruth Ann Minner on Sunday, Dec. 14.
		Roth, a Republican who lost the U.S. Senate seat he held for five terms to former Delaware Governor Thomas R. Carper, a Democrat, in 2000, was 82 years old.
	www.sussexcountyonline.com /artman/publish/state/printer_271.shtml (258 words)

	Confessions Of A Supply-Side Deficit Hawk - W. James Antle III
		Jack Kemp used to decry aggressive attempts to cut spending as "root canal politics." Lawrence Kudlow has suggested that efforts to shrink government would be politically detrimental to cutting taxes.
		Cut the level of spending and progressively lower tax rates become sustainable.
		While deficits are often preferable to tax increases and their impact on interest rates in the context of the entire economy and world borrowing can be overstated, they are not a positive good.
	www.americandaily.com /article/1528 (1175 words)

	Insight on the News: Is Jack Kemp a team player? - Republican vice-presidential candidate - Cover Story
		Since the late 1970s, when Kemp was half of the Kemp-Roth tax-cut plan, he has been coach, quarterback and cheerleader for the tax-cut wing of the GOP.
		This frequently put him at odds with Dole, an ardent "budget hawk" who believed that tax cuts were less important than efforts to balance the budget.
		Kemp's strongly held opinions and passionate advocacy led columnist David Broder to approvingly describe him as the GOP Hubert Humphrey -- but this goes down poorly with critics such as the caustic Rockwell.
	www.findarticles.com /p/articles/mi_m1571/is_n33_v12/ai_18625315/pg_2 (514 words)

	National Review Online's Washington Bulletin
		Tax cuts raise the temperature, interest-rate hikes lower it, and the thermometer's left in the same place-but taxpayers have gotten back some money the government was holding.
		Tax cuts don't raise interest rates; they bring interest rates down, because lower taxes mean that a lower interest rate will yield the same after-tax return on savings.
		Another common argument is that the tax cuts would "overheat" the economy, forcing the Fed to raise interest rates to cool it down.
	www.nationalreview.com /daily/nr073099.html (602 words)

	National Retail Sales Tax Alliance - Bruce Bartlett Commentary
		In fact, he would never even allow me to say the words "tax cut." He always insisted we were not offering a "tax cut," but a "permanent tax rate reduction." The difference may sound like a matter of semantics, but in fact conveys a profound difference in terms of economics.
		Kemp first began talking about marginal tax rates, almost all economic analysis of taxes dealt only with average or effective tax rates.
		And because the highest tax rates apply to those who least need to work, save or invest to maintain their lifestyles — i.e., the rich — they are especially sensitive to even small changes in tax rates and the after-tax rate of return.
	www.salestax.org /library/bartlett_2-14-01.html (1196 words)

	Bill Roth takes on the I.R.S.
		Roth said he wrote the book in part because of a desire to get across the message that I.R.S. abuse targets "the little guy." Rich folk and the corporations have their high-ticket tax lawyers.
		Barring a significant change in tax philosophy – reverting to a national sales tax, for instance – Roth said that he agrees with the idea of using the tax law to encourage worthwhile practices.
		Roth said he does not hold out much hope for any true reform of federal tax law.
	www.delaforum.com /2000/abouttown/articles/roth.htm (604 words)

	ESR April 29, 2002 Paul Craig Roberts, protectionist?
		Working as a congressional aide to Jack Kemp, he helped devise the Kemp-Roth tax cut proposal that would move the Republican Party in the direction of supply-side economics and lower tax rates.
		While many supply-siders were reluctant to cut government spending and instead wanted to use the handsome revenues generated by pro-growth economic policies to continue funding the welfare state, Roberts continued to value the limits the U.S. Constitution placed on the federal government.
		When high marginal tax rates and reckless monetary policy threatened to choke the U.S. economy in an endless stagflation headlock, Roberts was among the economists who helped chart a way out.
	www.enterstageright.com /archive/articles/0502/0502pcr.htm (853 words)

	July 15, 1999; Kemp, the Truthteller
		I also have another problem with the Roth proposal in that it violates the fundamental precept of fairness that Ronald Reagan articulated and the Senator himself and I reflected in the original Kemp-Roth tax cut proposal: Marginal tax rate reduction should be for everyone.
		Kemp also voiced concerns over the plan outlined by Senate Finance Chairman William Roth (R-DE), which likewise strives to remain within the fiscal straightjacket of debt retirement: "I am delighted to see my old comrade-in-arms, Bill Roth, back in the tax-cutting business but I say with affection his proposal also suffers from misplaced austerity.
		Likewise, in a recent study of the 1987 capital gains tax rate reduction, the economics firm of DRI found that instead of losing $275 billion in revenue through 2009, the tax rate reduction will actually produce sufficient additional economic activity to raise revenues by $5 billion.
	www.polyconomics.com /searchbase/07-15-99.html (895 words)

	Let Dole Be Reagan By Robert Shrum
		He had a new sense of spirit, a Reagan/Kemp tax cut.
		The visual segues to a nuclear family, unifying two different Republican messages--the moral and the material: The scene all but shouts that tax cuts are a family value.
		The spot, first broadcast four days before Kemp was picked, reveals the logic of the choice and makes it less of a surprise, even to Dole.
	www.slate.com /id/1578 (594 words)

	ATR: Press Releases: Reagan's Legacy 20 Years Later 8/13/01
		Grover Norquist, president of Americans for Tax Reform, called Kemp-Roth "a genuine restoration of America's tradition of low taxes and free enterprise, at a time when she needed it most.
		The cut totaled 3.3% of GDP, dwarfing both President Kennedy's tax cut (2.2% of GDP) and President George W. Bush's tax cut (1.1% of GDP).
		His bold agenda sought deep across-the-board tax cuts, spending cuts, massive deregulation of industry, and sound monetary policies.
	www.atr.org /content/html/2001/aug/081301pr.html (363 words)

	BWnov11999
		Critics blamed the tax cuts for causing the ''twin deficits'' (budget and trade) that threatened the economy.
		Professor Mundell was one of the first to prescribe the opposite: Cut tax rates, and tighten monetary policy to get rid of inflation.
		They claimed that the cuts had caused a consumption boom that was financed by foreign money and warned that soon Japan would end up owning the U.S. economy.
	condor.depaul.edu /~aeirikss/Tea/courses/EC509/articles/BWnov11999.html (581 words)

	Bob Mundell, Nobel Laureate -- October 13, 1999
		With announcement of a major tax cut, the capital market would instantly perceive that it is more profitable to do business in the United States than the rest of the world.
		Secondly, the finance required for the tax cut would be less than what would be needed if the recession is allowed to deepen.
		In a real sense, he sees the $30 billion tax cut as a future public’s investment in the current private, productive sector of the economy that is now unutilized.
	www.polyconomics.com /searchbase/10-13-99.html (1978 words)

	Mr. Gelbart Is Seriously Mistaken And Nasty To Boot
		After the Kemp-Roth tax cut of 1981 and the Reagan Tax Reform Act of 1986, our federal income tax rate was changed from fourteen brackets, starting with a 14% rate up to a top marginal rate of 70%, to three brackets: 15%, 28% and 33%.
		One notes that, contrary to the bleating about “tax cuts for the rich,” the tax collected from the rich ROSE MARKEDLY.
		This was not the flat tax proposed by many today, and which has worked well when tried around the world recently.
	www.useless-knowledge.com /1234/aug/article008.html (547 words)

	Reagan Tax Cut
		President Reagan signed into law the Economic Recovery Tax Act, also known as the Kemp-Roth bill after its two principal sponsors, U.S. Representative Jack Kemp and Senator Bill Roth.
		The Reagan tax cut reduced marginal rates by about 23% over three years and instituted adjustments for inflation in the bracket limits.
		The latter eliminates "bracket creep" where individuals find themselves in higher tax brackets as incomes increase simply due to inflation even if real incomes do not change.
	www.econreview.com /events/reagan1981b.htm (95 words)

	Industry Week: Roth's tax ax.(The chances of doing away with the alternative minimumtax and reducing capital-gains taxes have increased as Senator Willi am V. Roth becomes head of the Senate Finance Committee)(Brief
		Roth, coauthor of the 1981 Kemp-Roth tax-cut bill, is more of a tax cutter...
		00-00-0000 WITH SEN. Bill Roth (R, DEL.) taking over as chairman of the Senate Finance Committee, odds of a capital-gains tax cut and elimination of the alternative minimum tax have increased.
		Roth's tax ax.(The chances of doing away with the alternative minimumtax and reducing capital-gains taxes have increased as Senator Willi am V. Roth becomes head of the Senate Finance Committee)(Brief
	calbears.findarticles.com /p/articles/mi_hb3044/is_199510/ai_n7691022 (281 words)

	The Ultimate Gramm-Latta Budget - American History Information Guide and Reference
		The law also mandated the 1981 Kemp-Roth Tax Cut.
		This included an increase in military spending and some minor cuts in discretionary and entitlement spending.
		The Gramm-Latta Budget 1981 and the Gramm-Latta Omnibus Reconciliation Bill of 1981 implemented President Ronald Reagan's economic program.
	www.historymania.com /american_history/Gramm-Latta_Budget (63 words)

	106-210.htm
		"Those are just three of the many important financial problems facing taxpayers that this tax cut would have addressed.
		While I am disappointed by the President's veto, I intend to continue to work for tax relief that helps people with the important tasks of life.
		Relief may be dead this year, but it is important for the American people to know that, as long as I am Chairman of the Senate Finance Committee, I will continue to fight for the tax relief they rightly deserve.
	www.senate.gov /~finance/106-210.htm (259 words)

	Building on the lessons of the Reagan tax reform of 1981 (in MARION)
		Building on the lessons of the Reagan tax reform of 1981 : a new decade of economic growth and entrepreneurial capitalism / Secretary Jack Kemp at the Heritage Foundation forum on the 10th anniversary of the Kemp-Roth tax cut, Washington, D.C., August 13, 1991.
		Secretary Jack Kemp at the Heritage Foundation forum on the 10th anniversary of the Kemp-Roth tax cut.
		Building on the lessons of the Reagan tax reform of 1981
	js-catalog.cpl.org /MARION/BGM-4226 (117 words)

	KEMP
		Search the KEMP Family Message Boards at Ancestry.com (if available).
		Find graves of people named KEMP at Find-a-Grave.com (or add one that you know).
		Search the KEMP Family Resource Center at RootsWeb.com (if available).
	www.worldhistory.com /surname/US/K/KEMP.htm (73 words)

	Who's Alive and Who's Dead
		Co-authored the Kemp-Roth tax cut (1981) and created the Roth IRA.
	www.neosoft.com /~davo/livedead/lddetail.htm?ldindex=rothwi01 (22 words)

	Mike Trigg
		In his spare time he enjoys long, straight drives on the golf course, reading novels by the expatriate authors (Hemingway and Fitzgerald in particular), and contemplating the merits of the Kemp-Roth tax cut.
		A Midwesterner at heart, bad service and slapstick comedy need not apply.
	www.fool.com /About/staff/tmftonto.htm (119 words)

	20th Anniversary of Reagan Tax Cut
		Monday marked the 20th anniversary of the Ronald Reagan tax cut, also known as the Kemp-Roth bill after its co-sponsors, Rep. Jack Kemp and Sen. William Roth.
		Following the experience of the Kennedy tax rate cuts of 1962 and 1963, the Kemp-Roth bill was designed to reduce tax rates by 30 percent across-the-board."
		"It may be hard for some people to remember, but in 1980 when Bill Roth and I embarked on the drive to lower tax rates the top marginal income tax rate was 70 percent and the lowest was 20 percent.
	www.newsmax.com /archives/articles/2001/8/13/195341.shtml (282 words)

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