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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (153303)	10/14/2002 8:53:27 PM
From: Joe NYC	Read Replies (1) \| Respond to of 1585204

David, The liberal argument is, of course, that the payroll tax is regressive and therefore those minimum wage-earners are killed by taxes. Of course the same people who make the argument about SS taxes being too high go berserk when some limits are placed on the runaway pension benefits (Medicare being the worst offender), or when someone mentions increasing retirement age. Joe

To: i-node who wrote (153303)	10/14/2002 10:51:58 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 1585204

RE:"In fact, Bush's attempt at abolishing the Death Tax is one of the most valiant efforts I've seen to abolish a tax once it has been enacted. Even so, I doubt it will stick." I have a lot of doubts the abolishment of the death tax will ever fly. Congress and Clinton already gave away the farm with the zero cap gains tax on sale of your primary residence. Not to mention 3 other tax breaks for Real Estate. In the coming years I can only imagine the revenue shortfall to the federal government due to losses in the stock market. When it comes to the planned tax cuts I'm afraid they will be SOL. We are heading into a period of massive budget deficits. Also companies who have backed their pension fund payouts with profits from the company will start to erode at the foundation of our economy. I hear Ford and GM are in this boat. Jim