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Politics : Formerly About Applied Materials

AMAT 223.95

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Nov 21 3:59 PM EST

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To: Sam Citron who wrote (43554)	3/12/2001 1:19:01 PM
From: michael97123	Read Replies (1) of 70976

Sam, some musings. >i>"As far as using these poor examples who sometimes sit in the box seats during a presidential speech that goes back to Reagan(maybe before) and was used by clinton as well.">/i> You know average shmoes waving to the crowd at state of the onion events. Goes back at least to reagan and clinton was a master too. Sorry for the unclear language. I am multitasking today. Consumption taxes are an interesting solution but remember there is one flat rate on sales or value added but rich pay more because they buy more. If there was a flat tax on income rich would pay more in gross dollars too. Sam, why not progressive sales taxes based on ability to pay, so when you buy the mercedes you pay 39.6% while the average Joe pays 7%?. Somehow I dont think that you would like that. "Galbraith, not surprisingly, is quite dubious as to the ability of such a tax cut to aid the economy since he feels it will not really increase the propensity of the rich either to spend or to invest." What will they do with it then? Burn it!!! Galbraith has seen his better days. Krugman has said in past columns that he opposes the bush cuts because it doesnt address demand side concerns while it favors the rich. To some extent I agree. How about all witholding tables cut by 10% starting in april on the first $50,000 of taxable income. Now that would get the economy rolling.

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