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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (158920)	1/25/2003 4:24:47 PM
From: hmaly	Respond to of 1583478

Ted Re..Oh stop......you're making me cry......not! What, you never heard of the bubble in the Naz and somewhat in the Dow. Here is what the report said. The difference in median net wealth between the 10% of families with the highest incomes and the 20% of families with the lowest incomes jumped 70% from 1998 through 2001, the Fed said in its consumer finances report, which it conducts every three years. The gap between whites and minorities grew 21%. You will note that the report concentrated on the dates between 1998 - 2001; the exact period of the bubble, and the primary reason most of the people are on that list is because of the stocks they own. The poor don't own many stocks proportionally, so their circumstances wouldn't change very much. I would be willing to bet that if that reporter checked on the period from mid 2000 to the end of 2002, his findings would report that the upper income brackets lost 70% of their relative wealth differences in that period. Secondly, GW tax cut didn't take effect until after the period that report was covering, so GW tax cut had nothing to do with the 70% change, in fact Bill was still president during most of that period. Just goes to show that figures lie, and liars figure.