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To: benwood who wrote (104224)5/23/2001 3:25:20 PM
From: Dave  Read Replies (3) | Respond to of 436258
 
I assume if the White House admits to an impending recession, or any other event which will illustrate our soon-to-be huge shortfall in tax revenues, then the 1.35 trillion dollar tax cut will be viewed by a few as fiscally insane.

The tax cut is already viewed as insane by everybody but those opportunists who want to profit immediately at the expense of future generations. Even the richest of the rich (Buffett, Gates, Soros, etc.) think it's insane. Big Oil and the other corporate powers that are running the White House want to rape and pillage the Treasury as much as they want to rape and pillage the environment. The economic projections used to justify the tax cut were based on fairie-tale extrapolations of 1999 growth figures.

This Administration, the same one that invented the term "fuzzy math," has cynically embraced Faith-Based Economics. It's going to cost you and me dearly in many ways.

Dave



To: benwood who wrote (104224)5/23/2001 3:56:47 PM
From: Ilaine  Read Replies (2) | Respond to of 436258
 
Senate passed their version of the tax cut this afternoon. Now it goes to conference w/ house. May be passed before Memorial day. In light of the fact that it phases in over several years, it can always be revised again, you know. My own opinion is that the failure to pass the tax cut has exacerbated the downturn in the economy.


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