The most recent data significantly raise the probability that sufficient resources will be available to undertake both debt reduction and surplus-lowering policy initiatives,'' he told the Senate Budget Committee Thursday. Common sense dictates that with huge budget surpluses and a sizable debt, even one that is shrinking as a percentage of the economy, it is good policy to reduce the debt and refund the overpayment. Doing it in the face of a possible recession is particularly timely and prudent. Significantly, Greenspan addressed marginal tax rates. I have always been in favor of reducing marginal rates,'' he said.
Marginal rates are a roadblock to upward mobility.
Williams is the granddaughter of a Louisiana sharecropper. She grew up in a gang-plagued city outside of Los Angeles, where her father taught her how to play tennis. Now, she lives on a 10-acre estate in Florida and pays a lot of taxes. We don't know who she voted for in November, but her chances of getting to keep more of her hard-earned money have increased substantially since Nov. 7. By hard work, and a whole lot of natural talent, Williams became an athletic and financial success.