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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (11182)	1/7/2003 5:25:24 PM
From: smolejv@gmx.net	Respond to of 89467

>>what do you do with the colossal debts in corporations, households, and federal? how do you react to the 4.5x multiplier in creation of new money for producing a single unit of GDP? << etc As Bob Dylan complained: There must be some way outa here said a joker to the thief there's too much confusion I can get no relief Is the only outcome to LTFF (let the F*r fly) ie sit back and watch the implosion take its course? Or are there ways and means (FDR-wise) to get the USS Ark Generic away from the black hole? It's an honest question and my gut feeling goes for the outcome #1 (which essentially is 'everybody to his own devices') but otoh ... Life goes on, does it not? I mean ... later, after the hiccup, pneumotorax, the Big Sneeze? RegZ dj PS: The jw's Haiku style formatting has ... er ... its appeals - must be the Remington keyboard (32 chars max;)

To: Jim Willie CB who wrote (11182)	1/7/2003 6:10:22 PM
From: American Spirit	Read Replies (2) \| Respond to of 89467

We need immediate stimulus not this 10-year little by little plan added to the already huge tax cuts for the very wealthy. This Bush Plan may not stimulate the economy at all. His last one didn't. Without jobs people wont spend more. Kery's plan to create jobs in the private and public secotrs and give payroll tax relief as a definite stimulus is the correct way. That is what we need, not the already tax-protected rich getting to keep more of their inheritance. hey I'm going to inherhit too, but though we're not exactly rich we've already done estate planning. We dont need these Bush tax cuts. The little guys get screwed as usual and the deficits continue to balloon. Watch now as the economy continue to stagnate into 2004 after a mini rally here. As for dividends, it's a minor thing unless you're a major stockholder in dividend paying stocks. I'm not against this idea but as usual with Bush the happinest people right now are the fat cats. And the Bushies are spinning it as if it's fair and equitable. Instead it's more supply side economics with supposed trickle down effects. Also higher energy prices now are a hidden tax which negates this "gift". And expect people to receive fewer services from the government too. All in all, a dud on arrival.

To: Jim Willie CB who wrote (11182)	1/7/2003 6:12:09 PM
From: American Spirit	Read Replies (2) \| Respond to of 89467

Bush Tax Plan will not stimulate anything but Phillip Morris stock: But Reason magazine -- a libertarian organ whose editors never saw a tax cut they didn't like -- is also skeptical of the White House justification for this one. Today's Reason editorial calls the new Bush plan "just weird," noting that claims it will stimulate the economy have "already drawn hoots of derision from across the economic landscape." The Reason editors candidly admit that too few people actually pay dividend taxes for the cut to create a stimulative effect. It will, as they point out, favor big business at the expense of smaller, newer companies (and it will also, as they don't point out, place a competitive financial burden on cities and states that are already destitute).

To: Jim Willie CB who wrote (11182)	1/7/2003 6:25:32 PM
From: American Spirit	Read Replies (3) \| Respond to of 89467

The president's plan is too costly (an estimated $670 billion in lost taxes over a decade) on top of his alrady budget-busting estate tax cuts. At least two-thirds of the tax break would go to the top 20th of all taxpayers, those making more than $200,000 a year. As these wealthy investors are more apt to save - not spend - their windfalls, it's hard to see how it would provide much of a short-term boost to the U.S. economy. Most of these wealthy people don't even need these tax cuts. But they get them anyway. The old trickle down rich get richer philosophy. Perhaps, as the administration argues, tax-free dividends would bump up ailing stock prices, re-inflating shrunken retirement accounts and raising investors' confidence. But even then, this would be fertilizing a short-term flowering - not the long-term growth - of only part of the overall economic tree. And Bush says this will create jobs? How? Where? When? He provides no answer.