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Politics : Formerly About Applied Materials

AMAT 258.64

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To: Sam Citron who wrote (53442)	9/30/2001 12:42:15 PM
From: Ian@SI	Read Replies (1) of 70976

Sam, 1. Robert Rubin was, and is, financially brilliant. ...even a wizard. 2. His partisan political beliefs came through loud and clear in the Sept 30 Op-Ed. No big deal. He is a member of the Democratic party; one shouldn't expect him to act as a cheerleader for Republican party proposals. However his comments on Corporate tax cuts strike me as disingenuous. a permanent corporate income tax rate cut, would have exceedingly little short-term stimulus benefit relative to the cost. For example, cutting the corporate income tax rate from 35 percent to 25 percent would cost roughly $850 billion, including debt service, over 10 years. But the short-term stimulus from that cut would be a very small fraction of that cost. Hmmmm! So 10 year costs inflated by a variety of unspecified charges is expected to be much larger than the stimulus during the next couple weeks. Duhhhh! This duplicity detracts from Rubin rather than strengthening his argument. If I didn't hold Rubin in such high financial regard, I wouldn't waste my, or anyone else's, time commenting on this. It does lead me to suspect that either he wasn't the author of the piece; or that someone "edited" it after he did the initial drafts. FWIW, Ian

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