Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (97454)	9/4/2002 1:00:58 PM
From: benwood	Respond to of 132070

Wayne, don't forget that the bubble caused a short term spike in tax receipts and enabled the gov't to reward the wealthiest with a nice tax cut by riding the false euphoria of the ridiculous 10-year budget projection. That model, which, if it was part of the National Weather Service forecasting algorithm, would be predicting for next week snow in Death Valley and a hurricane in Omaha, has computed a decrease of over 500 million dollars per year in tax receipts in updates over the past 18 months. When you account for the pilfering of SS trust funds (which will be paid back by higher income tax someday I presume), that 10-year forecast is already negative.