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Technology Stocks : Ampex Corporation (AEXCA)
AMPX 11.93+5.8%Jan 22 3:59 PM EST
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To: HPilot who wrote (3407)9/14/1998 12:25:00 AM
From: David Wise  Read Replies (1) of 17679
 
>> I think that the economy is going to improve greatly. The republicans already feel that they can now pass any law they want and especially so after the elections. <<

I know your post was tongue in cheek, but thought I should point out that some people believe the stand-off between demo's and republicans is the reason the economy is so good. Seems that when they mess with the laws the most, they screw things up the most.

By the way, I don't feel rosy about the economy. I'm afraid that as the global mess inevitably hits home, and our trade imbalance gets worse, that wonderful budget "surplus" will disappear and then we are in trouble. Why? Because the democrats are going to want to raise taxes to offset the negative economy and keep the same level of tax revenue projection. Their first target (mark my word) will be favorable capital gains treatment recently enacted. The republicans already want to lower taxes and give the surplus (which probably wont exist in one more year) back to taxpayers.

The real effect of eliminating the lower capital gains taxes will be that people will hold assets longer before selling, thus reducing tax revenues even more. Once demo's start talking about eliminating favorable capital gains treatment, on top of the recession we'll be in, the stock market reaction could be to lose all the gains from the '90's.

Have a nice day!
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