George W. Bush's economic plan got a boost of credibility on Aug. 6 when it was endorsed in a newspaper ad by 300 prominent economists, including six Nobel Prize winners: Milton Friedman, Robert E. Lucas Jr., James M. Buchanan, Myron S. Scholes, Gary S. Becker, and Robert A. Mundell. Their endorsement singled out the Republican candidate's tax-cut plan for praise. "Tax rates are now especially high on people with low incomes," the endorsement said. Under Bush's plan, "The lower a taxpayer's income, the greater the percentage tax cut is."
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