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 : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Just_Observing who wrote (309967)	10/20/2002 2:33:05 PM
From: David Lawrence	Respond to of 769670

>>The drop in tax revenue this year, of over $130 billion, is the sharpest in 56 years, much of it due to layoffs, pay cuts, pay freezes, fewer exercised stock options, and a fall in capital gains. I dare say the overwhelming majority of the the deficit is due to lower tax receipts resulting from the above causes, and not from tax cuts. >>What's more, the reduction of tax rates for upper-income households enacted last year means that when the economy does finally pick up steam, Washington won't see a commensurate pickup in tax revenue. Bullshit. How many times does it have to be proven that lower tax rates stimulate economic activity and result in higher gross tax receipts to the government? It's simple: Higher tax rates = lower gross tax revenue. Lower tax rates = higher gross tax revenue.