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Technology Stocks : Daily Tides...Jetsam and Flotsam -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (33)	2/13/2001 1:01:08 PM
From: 2MAR$	Read Replies (1) \| Respond to of 80

Greenspan-U.S. budget controls breaking down WASHINGTON, Feb. 13 (Reuters) - Federal Reserve Chairman Alan Greenspan said on Tuesday that U.S. budgetary controls in the past decade, which created great economic advantages, had broken down in the face of surpluses in the past two years. The respected Fed chief said he thought one of the great advances in budgetary policy in recent history was the adherence to spending caps, which reduced government outlays and helped the transition from deficits to surpluses. "With the advent of surpluses, the budget controls broke down badly. I think that if the Congress could put them back in place in an effective manner, it would be a very important public policy advance," Greenspan told the Senate Banking Committee in the question-and-answer session of his twice-yearly monetary policy testimony. ((--Marjorie Olster, 202-898-8310)) Greenspan-Cap gains tax faulty way to raise revenue WASHINGTON, Feb 13 (Reuters) - Federal Reserve Chairman Alan Greenspan on Tuesday told lawmakers that capital gains taxes are an ineffective way to raise revenues for the federal government. "I have always argued that capital gains taxation is a poor means of raising revenue," Greenspan told the Senate Banking Committee in answering questions after delivering his semiannual monetary policy testimony. "I think that taxes on capital, of the form which that is, is not something which I would consider to be an appropriate economic form of taxation," he added. ((Washington newsroom, +1 202 898-8314, fax +1 202 898-8383, washington.newsroom@reuters.com)) MORE * end of story * REUTERS