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To: Les H who wrote (100121)	5/6/2001 7:13:14 PM
From: Don Lloyd	Read Replies (1) \| Respond to of 436258

Les - Contrary to public perception, Nixon was a liberal. Wasn't he the clown who initiated EITC? You have to be careful here as a form of the EITC is not inherently bad. The problems with the EITC are a combination of fraud and the fact that its phaseout combines with other program phaseouts to create effective 70% or so marginal tax rates for some low income families. Also it should not be combined with legal minimum wages and a progressive tax rate system. I am guessing that Milton Friedman at least had something favorable to say about it. Regards, Don

To: Les H who wrote (100121)	5/6/2001 7:13:58 PM
From: flatsville	Read Replies (1) \| Respond to of 436258

>>>Nixon was a liberal.<<< He sure fooled me...and just about everyone else I imagine (with the exception of you of course.) >>>Wasn't he the clown who initiated EITC?<<< Yeah, I believe so. I guess it was either that or raise the minimum wage. I guess he found it easier to subsidize cheap-assed employers through a tax credit to the working poor at the expense of everyone than meeting the business interests he and certain members of Congress were beholden to head on.

To: Les H who wrote (100121)	5/6/2001 7:20:50 PM
From: maceng2	Respond to of 436258

Difficult to interpret the thinking behind this report. news.ft.com While business groups were unanimous at the weekend in calling for a rate cut to offset the impact of the global economic slowdown and head off the threat of recession, many businesses argued that a cut of 0.5 percentage points could be counter-productive. Such a large cut would suggest that the Bank of England was more worried about the economic outlook than outsiders realised, risking further damage to already fragile business confidence, they said. Anthony Goldstone, president of the British Chambers of Commerce, said: "If the Bank starts slashing rates at this point, it would start causing more problems than it would seek to solve. Any cut greater than a quarter point would do more harm than good: it would cause panic and dent what confidence is still out there." What up with these bozo's? Good thing the USA and Greenspan doesn't need that kind of wussie frightened scaredy cat type approach. Just cut bigtime and get the problem over with -g- pearly