Mr Pratt needs a new accountant if he believes that George Bush's tax
cuts had any impact on his ability to invest in his company or hire
Money reinvested or used to hire people comes from pre-tax income. It
would be included as an expense and would be deducted from income
before the resulting profits were taxed. So the reduction in tax rates
would be irrelevant.
His letter is incorrect. The Globe did us all a disservice by not
requiring careful fact checking before clearing it for publication.
Sent to Boston Globe