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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (1728)	5/23/2003 6:40:03 AM
From: Wyätt Gwyön	Read Replies (2) \| Respond to of 4912

Bush spends $810 billion of government's money to get self reelected story.news.yahoo.com online.wsj.com Congressional leaders' embrace of a package officially priced at $350 billion over 10 years reflects concerns that the economy could be slipping back into recession. The true price tag could as high as $810 billion, if, as expected, various temporary provisions are ultimately extended.... The richest 1% of taxpayers will get 29% of the benefits of the tax cut, while the poorest 20% will get virtually nothing, according to an analysis by the Tax Policy Center, a joint venture of the Brookings Institution and Urban Institute think tanks here. A household with income of $30,000 to $40,000 a year would have an average tax cut of $323. A household with income between $500,000 and $1 million a year would have an average tax cut of $17,307. Dividends and capital gains are earned predominantly by wealthy households.... Sen. Kent Conrad of North Dakota said the tax cut is "irresponsible as fiscal policy, it is ineffective in terms of stimulating the economy, and it is utterly unfair.... It drives us deeper into deficits and debt that will not encourage economic growth, but will hurt it." I AGREE! it seems patently obvious that our government is willing to foment class warfare by pandering to the rich while debasing the currency and spending us into oblivion to stop the structural economic malaise, on which their potions will have no effect. i can hardly think of a better setup for higher gold and energy prices in the next 10 years.