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To: fuzzymath who wrote (42410)	3/26/2001 8:40:13 PM
From: michael97123	Respond to of 64865

FM, The part of the tax cut which is most objectionable to the left is the part need the most for the long term health of the american tax cut--it is the lowering of the top rate from 40-33. Its more important than cap gains or death tax or relief for the lower classes(although an attack on payroll taxes would be extremely positive from a consumption point of view as well as equity). Lowering the highest rates raises all boats. Nothing else really does unless for you get your most talented folks working that much harder. This is where it all started in 1986. Clinton tried to sop up the gravy from the bubble with higher rates and debt repayment from surplus. Worked ok during boom buy also now gives us no way to get out of this predicament we are in. Markets will recognize rate cuts as most important and react. Yeah, there will be a lag as with interest rates but the future success of our economy will be assured. mike