Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (129427)	12/10/2000 2:25:05 PM
From: Jim McMannis	Read Replies (1) of 1570497

Ted, RE:"But I would still contend that that the change in the real estate capital gains law was at best a secondary reason for the Fed's concern over inflation" It's well known that tax cuts are inflationary. They free up money. RE:"It was the pressure on wages in tight labor markets coupled with oil prices creeping up that prompted the fear of inflation with the Feds" Ask yourself where a bunch of the money came from to pump up wages and increase oil consumption. Don't underestimate the power of an all out tax cut as on Real Estate. Some people had 20-30k in a house that was worth 300k, 500k and up. The idea they could take that gain, TAX FREE, was a big reason to sell, build new, downsize...pocket some money...put it in the market, whatever...even buy a gas guzzler... Jim

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