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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 77.80

-0.5%

Dec 29 3:59 PM EST

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To: Lizzie Tudor who wrote (67479)	4/3/2005 8:38:25 AM
From: RetiredNow	Read Replies (2) of 77400

Yes, it does seem that we might be back in the 70's, although I hope not. I'm very unhappy about it, because I believe that the economy is otherwise sound and was starting to expand again. But oil is a surefire way of stopping that dead in its tracks. This is what is happening now. Ironically, if Bush hadn't cut taxes however many times he did, the economy would be a lot worse off. What essentially has happened is that overall taxes on our economy have remained the same. Bush lowered taxes, but the oil gods have increased overall taxes. So it's been a transfer of wealth from our government to Americans and from Americans to oil producing countries such as those in the Middle East. So instead of lower taxes giving Americans a resumption of healthy economic growth, instead all we have to show for it is a gaping deficit. This sux. The only silver lining is the possibility of igniting the hybrid and fuel cell auto market.

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