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Gold/Mining/Energy : Gold Price Monitor
GDXJ 147.42+2.2%Jan 27 4:00 PM EST
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To: russwinter who wrote (67354)4/8/2001 11:43:42 AM
From: Hawkmoon  Read Replies (1) of 116927
 
Yes, capital gains have been a large part of government revenues. But we also ran a $160 Billion surplus based upon excess FICA taxes derived from payroll taxes, above and beyond currenct SSTF liabilities. This revenue base will remain sustained until we see greater unemployment. And rolling back this FICA tax and converting a portion of it into private retirement plans, ala the Bush plan, will provide the private market access to this capital, rather than giving it to the govt, issuing an 10-20 year IOU against it, and permitting the pork barrel politicians to spend it on unproductive projects.

But the question you bring to light is how much of the actual government budget will have to be subsidized by the SSTF/FICA surpluses. And in this event I believe what will be required is further budget tightening by the Federal government.

Regards,

Ron
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