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Politics : Impeach George W. Bush -- Ignore unavailable to you. Want to Upgrade?

To: TigerPaw who wrote (5830)	8/8/2001 5:13:52 PM
From: jlallen	Respond to of 93284

Don't worry TP, Bush will lick this Clinton/Gore recession yet! JLA

To: TigerPaw who wrote (5830)	8/8/2001 7:08:40 PM
From: Lazarus_Long	Read Replies (1) \| Respond to of 93284

UPPER-INCOME TAXPAYERS pay a large share of the nation's taxes. The top 1% of the nation's taxpayers will earn about 17% of total income this year and will pay about 23% of federal income, payroll and excise taxes, according to estimates by the Joint Committee on Taxation. The highest 5% will earn about 31% of total income and pay 41% of federal taxes. The top 10% will earn 42% of income and pay 53% of taxes. To qualify for the top 1%, your income needs to be $340,306 or higher. Admission into the top 5% club starts at income of $145,199, while the top 10% begins at $107,455. The report defines income as adjusted gross income plus other items including tax-exempt interest income, nontaxable Social Security benefits and employer contributions for health plans and life insurance. Wall Street Journal, Aug. 8, 2001 Sure is awful the way they make the poor and middle class carry the load, isn't it?

To: TigerPaw who wrote (5830)	8/8/2001 11:16:19 PM
From: Mephisto	Read Replies (1) \| Respond to of 93284

Thanks for the report on the economy. It looks grim. Andy Grove was on Paul Kangas show tonight and he said he couldn't predict when there might be a recovery in the pc business.. I think the situation looks grim. I don't see how the consumer can keep up with current rate of spending considering the debt that they already carry. Also, I heard on tv the other night that people have borrowed heavily against the equity in their homes. They bet that the prices of their homes will continue to increase. No such thing as a sure bet, but, in my neighborhood, there has been extensive remodeling. I don't believe it can continue at this pace, but according to a fellow who has to install a couple of new windows for me, business this summer has been very good but it has not been as hectic as last summer. Good news that energy prices drop. Thanks again for the beige book Report. M........

To: TigerPaw who wrote (5830)	8/9/2001 3:19:41 AM
From: Neocon	Read Replies (1) \| Respond to of 93284

Well, as long as we get a rate cut......

To: TigerPaw who wrote (5830)	8/9/2001 5:37:35 AM
From: Neocon	Respond to of 93284

This is from the AP coverage of the same story: David Wyss, chief economist at Standard & Poor's in New York, said he expected the economy would recover gradually with growth coming in at 2 percent in the current quarter and 3.5 percent by the fourth quarter this year. ``People always lose patience waiting for Fed rate cuts to take effect because they forget that it takes a long time to turn the economy around,'' Wyss said. The Fed's new survey, which was based on information collected in June and July, showed the economy skirting close to a recession. Manufacturing, which has lost 837,000 jobs since June 2000, was continuing to suffer in July, according to the Fed report, hit by falling demand domestically and in foreign markets. ``Sustained weakness in the manufacturing sector spilled over to other businesses, with many (Fed) districts indicating declines in demand for office space and trucking and shipping services,'' the Fed survey said. The survey reported retail sales ``generally were sluggish and frequently below expectations, despite substantial discounting on a wide range of consumer goods.'' The Fed did say the weak economy was helping to keep inflation pressures in check with the exception of employee benefit costs, which were rising because of higher health costs. The Labor Department (news - web sites) reported Friday that the unemployment rate remained at 4.5 percent in July, the highest point it has reached during the yearlong economic slowdown. Many economists are forecasting that it will top 5 percent by the end of this year even though they are looking for growth to gradually strengthen in coming months. - dailynews.yahoo.com