Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 226.05

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3:59 PM EST

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To: michael97123 who wrote (42980)	3/3/2001 11:14:17 AM
From: Cary Salsberg	Read Replies (1) of 70976

Mike, People are spending and personal savings rates are very low. How does paying off the debt take money out of peoples hands? I read an article yesterday that said recent technology stock losses average about $45,000 for each investor. I don't think $200 will turn these people into spenders. I don't like making the payroll tax deductible. It is a regressive idea. Poor people with no tax liability will not benefit at all and wealthy people will get a 39% refund on their withholding. I am not poor and I live in a very wealthy Silicon Valley. I had not noticed that the surplus or the tax structure posed any obstacle toward people arriving here from all over the world and achieving both an affluent lifestyle and real wealth. The current economic problem is the result of business and stock market excess. It will be fairly short lived but painful to some. It is no reason for partisan political payback tax cuts. Clinton was an SOB in the bedroom, but he kept the country on the correct middle course with respect to the economy. Pay down the deficits, shore up social security, improve medical care for the elderly and uninsured, slow government expenditures for both military and social spending, and provide tax relief for low and midlle income families who are the victims of the correct free trade policy are the Clinton legacy along with almost 8 years of growth and prosperity. Finally, the Fed and AG's monetary policy have been the frontline for fine tuning the economy. We have had cuts and we will get more. The cuts need time to work and should not be interfered with by clumsy partisan fiscal policy. Fiscal policy should address longer term problems and objectives.

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