Hi Jim, RE: "you are missing one of the set rules of government. Once you give to the masses you got "h$ll" takin' it back."
It's probably easier to tax the say (loosely), 75M investors who've experienced tremendous losses on the NASDAQ (and now the DOW), then to tax the say (loosely) 250M Americans who have experienced tremendous gains on real estate, because 75M people is more than 250M people.
One CNN article said the White House said yesterday, "we do not have a model" for the cap gains and the WH was quoted as saying they were taken surprised by the deficit due to less tax receipts from stock market gains. Huh?
Someone is seriously and really economically asleep at the wheel. I would love it if they could get an influential Economist that is keen on fiscal responsibility for a balanced budget (no, make that surplus budget) that could influence WH & Congress & AG. I never understood why they didn't focus on creating a larger surplus budget during the boom-times.
Spending $400B on defense, when they could hire John Walker types that seem to have the ability to penetrate terrorist groups at $55k/year to gain the information they need, and would probably be more effective than spending $3.5B on a fleet of F-16 fighter planes from Lockheed.
I remember you saying about 2 years ago, "wait until the gov't realizes much money they won't have in tax receipts from cap gains."
voanews.com
US National Debt Clock Ticking Again
VOA News
11 Jul 2002 19:24 UTC
The "National Debt Clock" is ticking once again. The famous digital billboard in New York City tracks the U.S. national debt - and even calculates what it considers "your family share."
Two years ago, New York real estate developer Douglas Durst decided to turn off the 3x8-meter "debt clock" because the United States was enjoying a rare budget surplus.
But the national debt is on the rise again and Mr. Durst, who owns the building near Times Square where the billboard is perched, decided to restart the clock Thursday.
Once turned on, the clock reported a national debt of nearly $6.12 trillion and calculated that the share of each family in the United States is more than $66,000.
U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt as of 13 Jul 2002 at 10:22:29 PM GMT is: $6,127,902,781,625.67
The estimated population of the United States is 287,779,241
so each citizen's share of this debt is $21,293.76.
The National Debt has continued to increase an average of
$1,111 million per day since September 28, 2001
brillig.com
federalbudget.com
The Treasury Department spent $360 Billion on interest payments in FY01.
toptips.com
Regards,
Amy J |
