THE VIRGINIAN-PILOT 
              Copyright (c) 1995, Landmark Communications, Inc.

DATE: Saturday, April 29, 1995               TAG: 9504290003
SECTION: FRONT                    PAGE: A8   EDITION: FINAL 
TYPE: Letter 
                                             LENGTH: Short :   28 lines

DON'T CUT TAXES YET

I hope our Republican Congress will count to 10 before it decides to cut taxes. I hear the argument that the ``pain'' of reducing the deficit has to be offset with the ``pleasure'' of a tax cut. I don't understand why there is ``pain'' in reducing the debt obligations we've already set up for our grandchildren; I look on that as ``pleasure.''

But what really concerns me is pumping more money into an economy that is going full blast. The time for a tax cut is during a recession, not during a period of full employment. The logical consequence of more money chasing the same goods is inflation, which would bring higher interest rates and, ultimately, a recession.

Let's hope that Dick Armey and Phil Gramm, both economists, bite the bullet and postpone the tax cuts until they can have a positive effect in the economy.

JAMES D. KEYES

Painter, April 12, 1995 by CNB