Physician's Money Digest, July15 2003, Volume 10, Issue 13

The doomsayers on Capitol Hillhave slashed at President Bush's taxcut program. Among their argumentsis the cost of the war in Iraq. With billionsof dollars already spent on theconflict and billions more earmarkedfor rehabilitation, they contend, taxcuts should be held to a minimum.Tax reductions, their opponentssay, will lead to a sturdier economy,and point out that the immediatecosts of conflict in Iraq willamount to just 1% of the nation'sgross domestic product (GDP). Incomparison, World War II cost 100%of the nation's GDP at the time, theKorean War cost 15%, and theVietnam War 12%.