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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Taki who wrote (112132)	1/17/2003 10:42:13 AM
From: Jim Bishop	Respond to of 150070

Very nice Taki.

To: Taki who wrote (112132)	1/18/2003 11:49:32 AM
From: Taki	Read Replies (3) \| Respond to of 150070

WASHINGTON (Reuters) - President Bush said on Saturday that his $674 billion plan to boost the U.S. economy would benefit the nation's small businesses, which create millions of jobs each year. "To help small business, government should not try to manage the economy from Washington. Government's role is to create an environment in which employers succeed and hire new people," Bush said in his weekly radio address. Bush has proposed eliminating taxes investors pay on dividends, accelerating across-the-board rate cuts and providing a $400-per-child increase in the tax credit for families with children. He has also asked Congress to raise the amount small businesses can deduct from their taxes for investment in new equipment, such as machinery and computers. Bush would triple that amount to $75,000 from $25,000. "This reform would give small businesses a further incentive to make the investments on which our economy depends," Bush said, noting that small businesses accounts of about half of the nation's economic output. Democrats and some moderate Republicans have denounced Bush's tax-cut plan as a windfall for the wealthy that would provide little immediate help to the economy and swell the budget deficit. Bush's budget director said on Wednesday the federal government would run deficits for the "foreseeable future," with far bigger than expected shortfalls of $200 billion to $300 billion this fiscal year and next. Bush said accelerated rate cuts were needed because the economic "recovery is not as strong as it should be," and that small business "stand to gain a great deal from this measure." In all, Bush said his tax-cut package would give 23 million small business owners an average tax cut of $2,042 this year. Bush promised additional help by streamlining business regulations and by urging Congress to enact legal reform to curtail "the frivolous lawsuits that impose unfair costs on businesses and their customers." Bush is also urging Congress to permanently repeal estate taxes. "America's economy can thrive only when our small businesses thrive," Bush said.