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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (28352)	8/7/2000 3:22:18 PM
From: Frank Griffin	Read Replies (1) \| Respond to of 769667

Mr. Phillipps, you are a trial lawyer. You are fighting for your world of litigation. Do you do any class action suits?

To: Kenneth E. Phillipps who wrote (28352)	8/7/2000 3:25:08 PM
From: Les H	Respond to of 769667

Actually, the Bush/Dems tax increase of 1991 kicked in more money. He raised the tax rates by 5 points or 17 percent more on a wider number of people, and also increased the payroll withholding taxes. Unfortunately, for him, it took several years till 1993 to overcome the drag on bank lending from the S&L bailout and associated real estate foreclosures. That also added up to $ 75 billion in a single year to the deficit. Tax cut would not be inflationary if we cut into the $ 700 billion in added government spending since 1993. It remains to be seen how much of the 'surplus' will remain when the market bubble is gone. We mainly have the Japanese to thank for lending money at 0 percent, and also the Euro carry trade as well. Trimtabs had a report on the added tax revenue since 1999 and how much was coming from the sale of stock due to insiders and employee options. Common sense will have you roll back the film to 1996 when Clinton had another finger-pointing speech on the White House lawn where he complained that the budget couldn't be balanced by 2002 or it would wreck the economy. The problem still resides with both parties taxing and spending too much, much of the 'surplus' is illusory.