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Politics : Formerly About Advanced Micro Devices

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To: Brumar89 who wrote (399132)	7/16/2008 12:16:05 AM
From: tejek	Read Replies (1) of 1576198

According to the Institute for Research on the Economics of Taxation, Mr. Obama's tax hike would knock off $2.5 trillion in capital formation over five years, or nearly 2% of gross domestic product. "If we are only growing around 2% over the next five years, then we will have virtually zero growth for the period," the president of the institute, Stephen Entin, said. "This will create a permanent hit of 5% or greater to GDP." The effect on New York will be even more acute: Wall Street accounts for nearly 9% of the city's tax revenues and up to 20% of the state's revenues; the city collected more than $3.3 billion in tax revenue from the securities industry in fiscal year 2007 and New York State collected $9.6 billion, according to New York State Comptroller Thomas DiNapoli. In addition, every job added on Wall Street results in the creation of two additional jobs in other industries in the city, and one additional job in the suburbs. I love the way your people throw out numbers like they mean something. Bottom line: You get what you pay for........Bush was on the cheap and it shows.

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