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

To: Scumbria who wrote (123099)	8/27/2000 6:03:05 PM
From: EricRR	Read Replies (2) \| Respond to of 1570140

Scumbria: The social and environmental cutbacks under Reagan were needed to help offset the huge tax cuts for the wealthiest 5% of the population. Have you ever read "The Fountainhead?" Ignoring Ayn's over philosophising, I found it one of the most intesting books I've ever read. She cast Communists, Faciasts, Utopians, and the 14th century Catholic Church into the same pot. Written in the late 1940's, it anticipates the political conflicts of the 1960's. What percentage of credit for Intel's success would you say goes to Andy Grove, vs the rest of the company? What percentage of credit for Athlon goes to Dirk and the other top designers, vs the rest of the team? If you don't think "talent" is affected by high tax rates, ask yourself how many telented Cananidians you work with. Sometimes Americans move to Canada- Is it a fair trade? The government has an important role to play in ensureing for (not nessesarly providing for), public education, a clean environment, and competitive markets, among others. I also don't mind them encouraging rich people (>10 million) to give to charity upon their deaths, rather than create more spoiled brats. But you shouldn't underestimate the ability of government to sap the will from a talented work force, and perclude any desire to provide, or hunger for, bold leadership. I think capitalism is simply a system in which human greed is redirected so that it also provides for the public interest. There is no doubt in my mind that the upper tax rates that Reagan reduced (70% I think) was partly holding back the economy as a whole, threw the pacification of a couraguous and talented few. If N monkies on type wrirters could equal the output of Stephen King, why should the sum on N monkies salaries be taxed at one rate, while if the same money had been give to Spephen King the rate should be higher. One could argue that there are also lot of fat bozoes who make too much money with out providing much back to the rest of society, and I'd agree. But the optimization of the economy is not a min max problem (minimise your maximum error in, say, taxation), at least on the high end (on the low end make sure that government ensures some basic serivces for the poor), but rather it's the average effect that counts in the long run.

To: Scumbria who wrote (123099)	8/27/2000 6:14:03 PM
From: combjelly	Read Replies (1) \| Respond to of 1570140

Scumbria, George just has a fine appreciation of influential friends and what they can do for you. So a mutual back-scratching session is something he has come to appreciate. The amusing thing is that while he tries to come off as just a down home good ol' boy, he is totally baffled as to why everyone is not clamoring for the tax cut he keeps waving around. That is because many of the people he pretends to be one of realize that the tax cut won't get them more than a couple of 6 packs of beer, only George's real friends will see a benefit from the tax cuts...

To: Scumbria who wrote (123099)	8/28/2000 6:47:23 AM
From: Amy J	Respond to of 1570140

OT Hi Scumbria, RE: "George Junior seems to have similar ideas." I think many folks remember the growing national debt. I was disappointed when they took the national debt counter down in NY. Regards, Amy J

To: Scumbria who wrote (123099)	8/28/2000 11:46:22 AM
From: TimF	Read Replies (1) \| Respond to of 1570140

OT The social and environmental cutbacks under Reagan were needed to help offset the huge tax cuts for the wealthiest 5% of the population. Even so, Reagan still managed to run up 4 trillion dollars worth of debt. Social spending increased greatly under Reagan. Revenue also increased but social spending increased faster resulting in the high deficits which continued under Bush and Clinton, until a Republican congress was elected. Tim