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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (42094)	2/13/2001 11:29:24 AM
From: michael97123	Read Replies (1) \| Respond to of 70976

More Greenspan, My(mike's) belief is that before high interest rates were used, the US fought the bubble with higher taxes in the form of higher rates yielding surplus yielding reduced debt. In the end stronger medicine was needed. Now the higher tax rates used to fight the bubble threaten to become a drag on the economy. So lowering rates becomes a necessity even if some of our friends in the democratic party persist in carrying mufflers to political events while driving their new Lexus. WASHINGTON, Feb 13 (Reuters) - Federal Reserve Chairman Alan Greenspan repeated on Wednesday that he would not take a stand on any particular tax cut plan but said marginal tax rate cuts were likely the best course of action. ``I have in the Budget Committee hearings indicated that I did not want, nor should I take a position on any specific tax cut and I am not and have not,'' Greenspan told members of the Senate Banking committee, referring to his testimony before the Senate Budget panel last month on tax cuts. ``Marginal tax rate reductions...is the most effective way to enhance economic activity,'' he said.