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Politics : Formerly About Advanced Micro Devices
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To: Duncan Baird who started this subject1/8/2003 1:28:44 PM
From: tejek  Read Replies (2) of 1582695
 
Bush Will Prevail Over His Dividend Adversaries

By James J. Cramer
01/08/2003 09:43 AM EST

Companies won't pay more dividends. Investors won't change their attitudes on dividends. Nothing matters.

There, that's the prevailing wisdom that I've been reading on the second day of the reception on the president's plan.


I think the doubters are missing something. This president is wildly popular. He is remarkably persuasive.

The critics act as if this is some cockeyed proposal from some out-of-touch president. I think the critics are out of touch, and the president has his ear to the ground of the investor class.

I underrated President Bush for a long time, but had my eyes opened by the November elections. People don't want to go against him in Congress. They might say that they don't like the plan, but they will vote for it.

Corporations are quick to say that they don't care about dividends because most of their shareholders are renters. That won't be the case if you need to wait a year to get your dividends tax-free, which is where I think the president is going. Hedge fund managers blast the plan because they could care less about dividends; they are all about absolute performance.

And I will take the president over all of these critics. People love the guy. It will pass, behavior will change and the skeptics will eat crow. Period.

--------------------------------------------------------------------------------
James J. Cramer is a director and co-founder of TheStreet.com.
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