The big spenders, anxious to get their hands back in the public's pockets, are now trying to use greed and envy to undercut the economy-building aspects of our tax program. They're calling for a tax cap on benefits that would undermine new investment, job creation, and economic growth. I hope the American people remember that many of those advocating this tax cap opposed any reduction in tax rates for anybody. They don't think we're taxed enough. And let's set the record straight about indexing.
Indexing prevents lower and middle-income earners from being pushed into higher tax brackets.
It doesn't have any impact on the tax rates of our wealthiest citizens. They're already in those top brackets. Those who advocate eliminating indexing are trying to perpetrate a cynical hoax on lower and middle-income earners in America. In the last few months, we've seen the initial phases of a strong and steady economic recovery. Retail sales and produc- tivity are up.