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Politics : Formerly About Advanced Micro Devices
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To: hmaly who wrote (133873)3/1/2001 4:28:42 PM
From: Scumbria  Read Replies (2) of 1570942
 
Harry,

The 1993 Deficit Reduction Act was:

50% spending cuts
50% tax increase, mostly on upper income people like myself

It led to a budget surplus, which was needed to pay off Reagan's screw up.

Imagine what will happen to the financial markets next year when the Bush red ink is announced. It will make this years crash seem like child's play.

The tax cut is mindless, and irresponsible. People in my tax bracket don't need a cut as badly as our country needs to pay off it's debt.

Scumbria
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