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To: tcmay who wrote (172318)	12/29/2002 7:53:56 PM
From: Jim McMannis	Respond to of 186894

RE:"How about reducting marginal tax rates on investments, to encourage less consumption and more investment? No way, as that would produce a "bad Christmas." The Christmas we get we deserve" I wish. The problem is is that it will be difficult to get any sweeping federal tax cuts from here as the budget deficit is starting to roll. Not to mention some States like California piling up deficits. Fact is that Stock investments now are at the bottom of the barrel. No tax breaks. A reputation of management taking the money and running. Stock options galore diluting the float. Unions bankrupting a company before making a deal thus wiping all the common stock value off the books etc. Cash is no where. What 1%-2% interest from a bank or money market account. Real Estate got in under the wire with even more tax breaks 5 years ago. Now it gets at least 4 tax breaks + plus low rates. It's still the boomer-flip-bust of choice. As I've stated before that one is really scary. Average down payment is now 6%. Lord for bid an interest rate rise. But with everything else having no pricing pressure who knows how low rates will go and how high housing prices will go. Jim

To: tcmay who wrote (172318)	12/29/2002 11:31:34 PM
From: John Chen	Read Replies (2) \| Respond to of 186894

tcmay,re:"disaster Xmas". Good catch. The 'never enough' consumers need to have more garage sales, more storage (bigger houses) to 'consume what they have'. This is the best marketing country. Well, as Paul Vocker said, the 'social security system' is the best marketing scheme on earth. Maybe we should draft the retirees to fight war first. There are many advantages to this: 1. they need work anyway. 2. release of the 'medical system' (assuming someone do die in a war) 3. less draining on future retirements outlay. ... ...