Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: Joe NYC who wrote (115747)	6/13/2000 4:36:00 PM
From: Jim McMannis	Read Replies (1) of 1579162

RE:"I think the real estate tax cut is 1 time event that should have 1 time effect on real estate prices. Just like the 1986 tax reform bill that depressed the real estate prices." You get to sell your primary residence every 2 years tax free if it's under $500k. As far as a one time event. Maybe. That's the way it happened back in 79-80...one big ratchet up and then leveled for years. But Volker had to spike! rates higher (21% prime) to stop it...then it took 18 years to get rates back down where they are now. I don't want to have to go through another cycle like that. AG needs to hike deeply and swiftly. None of this incremental stuff anymore. This scenario is looking more and more like deja vu all over again from the 70's... Jim

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