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To: Lee who wrote (138200)	7/31/1999 8:35:00 PM
From: JRI	Respond to of 176387

Lee, I should have combined posts.... I agree with you on eliminating all death taxes. One additional pt. to your analysis..The problem with current economic data (as you know) is that is does a terrible job in measuring things like output and productivity in our information age economy....I feel certain that it does not fully take in effect the internet's role in all of this, especially relating to productivity.. and (effecient) allocation of capital.. So, although I think your analysis is rock-solid...and is mostly how I would present the argument(s) (if I were coherent enough)...incomplete data can only get us so far..thank goodness it appears that Greenspan does get it...and although I have never seen him claim that gvt. data is faulty, he has stated (or at least inferred) that it is incomplete, and therefore, properly, he sees this whole activity from a quantitative and qualitative perspective... he knows (properly) that it is far from an exact science....and one would have to be an idiot not to understand (and take in account) the following: The internet is the most amazing, productivity-enhancing, cost-reducing (inflation-crushing), time-saving, entertainment-producing phenomena mankind will see for quite a while (at least in my lifetime)..somehow, I don't think gvt. data fully reflects this <g>.. Don't worry about the Bravos...they'll be there in October...I'm tellin' ya, I think this is their year.....