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To: GraceZ who wrote (81090)	3/15/2001 5:13:59 PM
From: flatsville	Respond to of 436258

After this year and next, that's up to debate, but historically, a lowering of the marginal tax rate and caps gains taxes has resulted in an increase in tax receipts further downstream. Yes, next year is the real issue. My understanding is that the marginal rate cuts are on the table not a cap gains cut. (Or did I miss something?) A cut in marginal rates effective next year will only produce a marginal increase in cap gains related sales IMO...and no big revenue bonanza. None the less, these guys need to take a look backwards and connect the dots re: the indices and tax receipts. Their revenue projections (and no doubt their budget numbers)thus far have been based on fantasy figures from the past. That world will not exist going forward. No, not by a long shot...at least for some time. Remember, this tax cut of his is a 10 year process...they need to get a clue.