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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Knighty Tin who wrote (212971)	1/8/2003 10:51:06 AM
From: Freedom Fighter	Read Replies (1) of 436258

KT, >On the equity side, favoring the rust belt, high debt dividend payers will make it more expensive for smaller and more innovative cos. to raise capital. Tech and biotech will especially become disfavored. Every inventor, entrepreneur or innovator will have to give up more of his or her stake to get financing and most will find the competition for funds excluding them from cash. < I agree on that, but I have no problem with it because I think double taxation of dividends is an economic mistake (capital gains also). So I believe we would be moving from a flawed set of circumstances to a better one. I think the Republicans are making a mistake in trying to make the case that cutting dividend taxes is stimulative though. If it is at all (I believe it is) it isn't major and the impact it will have is of the very long term variety having to do with more efficient allocation of capital over the long haul. I think they should simply make the double taxation "fairness/economic sense" case. All that said, I think the move toward huge deficits is idiotic beyond belief even if it helps give the economy a boost in the short term. It's one thing to run deficits to build "required and economically sound" roads, bridges, and other infrastructure, to educate people etc... It's another thing to run deficts building bombs and funding various consumption programs (no matter what their social merit). I hated Clinton because IMO he did everything possible to use the Federal government, its institutions and agencies, to maximize and sustain various bubbles. He therefore maximized the amount of wealth that Wall St. and some rich people could extract from average American citizens and 3rd world countries. I hate Bush because I now believe he will do exactly what a bunch of idiots tell him to do. I'm done. :-) Happy New Year.

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