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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Seeker of Truth who wrote (49841)5/12/2004 10:44:29 AM
From: AC Flyer  Read Replies (5) of 74559
 
>>Anybody familiar with the honesty of the Bush administration will not even believe the possibly 100 million decrease of anticipated deficit until they see it<<

First of all, it's 100 billion, not 100 million. We're not discussing the economy of Botswana here. Second of all, the Bush administration has nothing...nothing at all to do with reporting tax receipts.

Good grief. I guess I have to spell out everything. The point here is not deficit reduction, it's higher tax receipts. Higher tax receipts - these are payroll and income taxes, remember - means that more Americans are working, or more Americans are making more money, or both. Increasing tax receipts is particularly significant as, since 2000, there has been a large overhang of capital losses that are deductible against ordinary income by individual taxpayers. These capital loss deductions can be carried forward and deducted at the maximum rate of $3,000 per year and have obviously been a drag on tax receipts.

Now, put this together with Cisco's and IBM's and others stories of a resurgence in capital spending by businesses, and what do you have? A genuine recovery! Viola!

(I love that - Viola! You see it everywhere now. It really tickles my funnybone. Hint: a viola is a musical instrument).
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