Bailing Out Failed Savings and Loans
President Bush calling a savings fee, a “user’s fee” and not a tax, reminds me of an authentic Lincoln story. President Lincoln asked, “If you call a cow’s tail a leg, how many legs does a cow have?”
“Five,” was the reply.
“No,” Lincoln replied. “Calling a tail a leg doesn’t make it one.”
Similarly, Bush calling a tax a “user’s fee” doesn’t make it one. It’s still a tax!
MORT R. LEWIS
Marina del Rey
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