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Politics : President Barack Obama
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To: Kenneth E. Phillipps who wrote (16827)4/9/2008 8:55:33 AM
From: michael97123  Read Replies (2) of 149317
 
and taxes could be increase in 93 because we were in a boom times. But one should not take solace in high rates in any case. Reagan overspent on the military to defeat the soviets and he accomplished that. Deficits were wiped out in the 90s and debt was reduced when the crash of 2000 came along with 9/11. There is no excess liquidity to sop up today without great cost. Now you need deficit spending. Why the hell did they do the rebates if all you are going to do next year is raise taxes in a recession. Makes no sense regardless of what some of the economicly naive folks on this thread think. Do you really think we should raise taxes here starting with the so called rich---folks who gross over 200k who are being targeted. Its just the time you want these folks to be investing, not finding 60% total tax rates making it an impossible backdrop for investment.
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