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Politics : Ask Michael Burke

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To: PaperChase who wrote (30089)	7/21/1998 8:43:00 PM
From: Knighty Tin	Read Replies (4) of 132070

PC, I don't know. I just know that, without the rate changing, it is not logical that you can have lower gross earnings and lower taxes every quarter. Earnings before taxes were quite a bit lower than last year, 4.4% to be exact. So, taxes should be lower. But not enough lower to make net income appear higher than last year. I can't figure out what trick they used to get taxes that much lower, but you have to wonder how many times this rabbit can be pulled out of that hat before everyone notices that the hat is full of rabbit poop. <G> The rate has dropped from nearly 35% to a little over 30%. My guess is that the sharp-pencilled accountants have just about run out of graphite on this bit of ledgerdemain. MB

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