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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Scumbria who wrote (103772)	4/11/2000 12:49:00 PM
From: Jim McMannis	Respond to of 1570353

The great bull market of the 90s can only be attributed to sex. Anything else is just political rhetoric... Jim

To: Scumbria who wrote (103772)	4/11/2000 1:20:00 PM
From: Joe NYC	Read Replies (2) \| Respond to of 1570353

Scumbria, I agree that Bush Sr. paid a high price for raising taxes in an effort to slow down deficit growth. I give up. You refuse to even consider the fact that the deficit is caused by the ever increasing cycles of spending increases. The budget deficit (surplus) = Revenue - Spending. Now revenue is some function of personal income marginal tax rates (your obsession), but the relationship is fuzzy at best. People modify their behaviour - cheat more, divert income to let's say stock options, capital gains, profit sharing retirement plans. Remember we are talking about the top 5% or so of taxpayers, who have this flexibility. George Bush Sr. agreed to extend the 31% marginal rate to highest income taxpayers (frin 28%), but the amount of money raised is a drop in the bucket. What he got for it was a straight jacket put on Congress, benefits of which we are enjoying today. (you don't seem to be even aware of the existence of this straight jacket) The effect of the tax increase was largely symbolic. He agreed to endure personal humiliation for the good of the country. I don't think that he was a very effective leader. What your example of an act of leadership in recent history? If finishing off the Communist threat, putting together coalition to defeat Iraq, and taking care of the budget deficit is not enough to be considered an effective leader, I don't know what is. Joe