President Bush says: No new taxes!
Seriously, though, I think that he will keep that promise unlike his father. Why raise taxes when you can just increase the deficit?Despite presiding over a tax increase this year in the form of the expiration of depreciation incentives, Bush's style haven't generally been "tax and spend" but rather "borrow and spend". That way, Bush can continue with his policy of expanding big government without upsetting the conservative base too much. And that this will lead to costs later in the form of inflation and/or higher interest expenses is something which is not seen by all too many now.