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To: Lee Lichterman III who wrote (212941)	1/8/2003 12:11:47 AM
From: 10K a day	Read Replies (1) \| Respond to of 436258

well...why won't the cities just package and roll the debt on to some greater fool...reminds me of packaging and rolling the credit card debt...funny to me...tho....oh well...nevermind.

To: Lee Lichterman III who wrote (212941)	1/8/2003 10:46:14 AM
From: LTK007	Respond to of 436258

<What bugs me most about this proposal is I can't see that anyone thought this through yet> i have been thinking it through the last couple days and in very generalized summation i like what one fellow said to match my view and that being this is not trickle down economics, it is mist down economics. <<<<But some of the administration's critics dismiss the entire notion of a mass investor class. To the degree that anyone cares about taxation of dividends, Democrats said, it is a thin slice of the very richest Americans who are already the Republican party's patrons rather than the average working families that determine the outcome of elections. For all that investing became the national pastime when the market was rising, they said, stock market wealth is still so concentrated that Mr. Bush's proposal is nothing more than a new way of justifying tax cuts for wealthy Republican benefactors. They said the focus on dividends came about because other options appealing to conservatives, like corporate tax cuts, became politically problematic for the White House in the aftermath of last year's corporate accounting scandals. "This is so flagrant," said Kevin Phillips, a political commentator and the author of "Wealth and Democracy: A Political History of the American Rich." "It's not aimed at the little investor," Mr. Phillips said of the Bush plan. "It's aimed at the big investor and shrouded by a fog of phoniness. This isn't even trickle-down economics. It's mist-down economics.">> nytimes.com if this bizarro plan takes hold the "we are already loaded" will get fatter and fatter buying pfds and other high dividend vehicles to the point that they fall over and crush us all under their blubber. i myself am on that borderline that with tax-free dividends i could go completely to fixed income and live a modest life comfortably off just the tax-free dividends. But here is the hard reality, for someone my age(61-retired) i am in the 85th percentile regards my cash assets.( statistic provided by a fixed income money manager for the wealthy who himself believes WS is a total scam with only one function, that being to move money from the middleclass and lower classes to the rich get richer always class) That fact is SCARY; for if i am in the 85th percentile, that means this plan is NOT going to be a help to many many many millions of people. What i think this plan will actually do is have a backlash as opponents start getting hard facts out and the polls will turn against the plan and a long fight will develop on Capitol Hill and the worst case scenario develops, we are TOO LATE to do anything. It is amazing, but Bush simply has proposed what WS wanted, they operate him like a puppet on a string. i actually think Bush is sincere but i have come to believe the "jokes" about his brain power may be true.Max