Tax Cuts Won’t Stimulate Growth

* The argument that taxes should be cut to stimulate economic growth is fallacious. The growth of the 1990s occurred mainly because computer networking and software technologies were ripe for exploitation. New business opportunities found their requisite investment backing despite the lack of tax cuts.

The current shakeout in Internet stocks needs to run its course. Instead of instilling our people with false panic, government leaders should allow evolution and innovation to happen at its natural pace. When new technologies are ready again to reshape our economy, there will be investors lining up to get aboard the next wave of growth. Infusing the economy with tax-cut dollars before that time has come will only throw too much good money after bad ideas. And that will only produce inflated stock valuations and a run on country homes for the well endowed.

What we need out of Washington is careful fiscal leadership, not doctrinaire tax cuts. Until the next technological breakthrough stimulates our economy, we need to continue digging ourselves out of the debt hole that the last round of sloppy fiscal policy created.

BERNARD ROTH

Santa Barbara

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In his letter on Feb. 20, Sam Matthews asked, “How can anyone justify taxing someone’s estate just because he or she dies?” To the contrary, ours is supposed to be a capitalist economy and society, where one is to earn one’s wealth by working hard and working smart. Thus, if we are really free-market loving, dyed-in-the-wool capitalists (and we should be), then the question should be: How can anyone justify inheriting wealth created by someone else?

JOHN WILLIAMS

Hermosa Beach

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A sure way to have the tax system simplified is to require that all of the members of Congress and the president prepare their own tax returns. Of course, we must prepare for a shutdown of the government for at least two months prior to April 15.

GEORGE KERSTER

Manhattan Beach