DJ, Re: Raptors in Blue
I believe the "surplus" will vanish as quickly as it materialized. Our system of taxation is interesting in that "they" want their money up front through a system of estimated taxes. To avoid interest-based penalties, upper tier taxpayers were required, during 2000, to pay in 106% of their 1999 income tax through withholding or estimated payments. I'll have a better handle on the situation in a couple of months <ng> but one individual I talked to today appears that, while his estimated payments were about $20K for last year, he will have a refund this year that will offset any estimated payments for 2001. Moreover, it looks like he's going to be carrying forward some substantial capital losses. He could be an isolated example, but I don't think so.
Further, I believe AG got tax cut religion after watching how both parties were spending money as fast as they could before recessing for the election.
I don't comprehend the private debt issue enough to comment.
I heard somewhere recently that the largest employer in Vietnam is NKE. I believe the trade issue represents the smoldering ashes. If our corporations continue exporting jobs to the third world, eventually IMHO no one will be able to afford their products. I just don't know how this issue is going to get resolved. I thought it was laughable that one of the things that Chrysler is going to do for their terminated 26,000 employees is offer them a coupon for the reduced purchase of a car.
After staring at charts all night, I think I'm done. BTW Ignorant me didn't even realize you were being caustic.
PS I decided to play SI's stock game -- AA, AXP, GLW, MRK, and WCOM.
The Swamp is finally warming up.
TB |
