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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: sun-tzu who wrote (62304)1/27/2001 4:53:40 PM
From: Mark Adams  Read Replies (1) of 436258
 
Taking Shack's advice, I checked out the latest from Nolan. Or at least, his chosen guest author. Quite impressive.

Will somebody, for the sake of reason, do a little calculation on what % of the 1999 surplus capital gains taxes provided and extrapolate the 2000 results! Then maybe we might have a real idea of what THE NUMBER really is. (We think it will be an awful lot less than even this calculation given our outlook for 2001 but that is another topic).

I've long thought there is another, oft overlooked aspect to the current budget surplus. In 1997, the Roth IRA was created, allowing people to convert their normal IRA in 98 and deduct the income over 4 years. In effect, that pulled in the deferred taxes to the extent individuals chose to act on it. In 2002, that tax boost will be gone.
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