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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?


To: Maurice Winn who wrote (32742)4/30/2003 7:16:01 PM
From: EL KABONG!!!  Read Replies (1) | Respond to of 74559
 
Hi Mq,

Taxpayers haven't had the huge tax cuts.

I'm afraid you'll have to stand corrected on this one... All qualified US citizens received a check, called a rebate check if I recall correctly, some time ago now, maybe 2 years or so ago, which was the start of the "tax cuts". In my particular case, I think my wife and I received something like $600 or $650...

But, as I said, the rebate check was only the beginning. Tax rates were rolled back for almost all citizens, starting in January, 2002 (I think). I know my effective tax rate was lower this past year than it had been in prior years, with the last dollar dropping to something like 27% from the old 28%. I may have the exact numbers/dates incorrect, but US citizens are currently benefiting from a lower federal tax rate.

And I live in a state where the state taxes are based upon the federal taxes. So, a drop in my federal taxes produces a similar, corresponding drop in my state income tax.

KJC



To: Maurice Winn who wrote (32742)4/30/2003 11:31:05 PM
From: LLCF  Read Replies (1) | Respond to of 74559
 
<I know Chairman Green$pan says deficit financing isn't good, but if it stops deflationary stampedes, it'll be fine >

Just floating bonds to spend isn't necessarily expansionary... they need to print money and hand it out [ie. buy stuff or use it for government expenditures] instead of floating debt.

As for tax cuts, well, I"m afraind they [rates] aren't going to get much lower, they've been doing that for 20 years.

dAK