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Politics : Al Gore vs George Bush: the moderate's perspective
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To: Lino... who wrote (3330)10/21/2000 6:48:07 PM
From: fuzzymath  Read Replies (1) of 10042
 
Lino, I have read this again and again in the Wall Street Journal in recent years. The capital gains taxes paid because of the rapidly rising stock market matched the total surplus -- meaning that if the stock market stops rising fast, the surplus disappears. This was the analysis of one of the "think tank" groups that study the economy.

I haven't seen the CNBC report, no -- but I can tell you I have heard this story told. It is going to be very interesting to see what unfolds as people begin filing their taxes next year. The projections may have to be revised sharply downward due to the stock market's horrid year.

The Economist magazine says the projected surpluses are very likely not to happen, between an overinflated stock market, rising energy costs, etc.

Kevin/fuzzymath
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