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To: kech who wrote (121223)	7/3/2002 7:50:02 AM
From: Art Bechhoefer	Respond to of 152472

OT - The problems Krugman identifies would be dealt with more efficiently by lowering the corporate income tax to near zero. This would be better than a consumer tax rebate, as it would allow companies to lower their product prices, increase dividends, and think twice about borrowing money to acquire new companies when there's no more tax saving on the interest costs and depreciation. I do not think it's either sensible or responsible to knowingly reduce taxes and increase spending without knowing how the books will come back into balance. It's also inflationary, as we know from the Vietnam experience in the period from 1965 to 1975. Art