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

To: GraceZ who wrote (1758)	5/23/2003 3:49:53 PM
From: LLCF	Read Replies (1) \| Respond to of 4912

<Absolutely, I'm for doing what is right for the greatest number of people even if it means some person who is a lot richer than I am gets even richer.> Being richer or poorer isn't an issue. You are essentially claiming one group does the "right" thing with their money and the other doesn't, or at least one group does 'better' things with their money. It appears to be social engineering. Also IMO, the assumption that one group WILL 'make everyone better off' is a giant leap... there is certainly no way of knowing if this is always true, or to what extent it will be true. Further there is plenty of anecdotal evidence in the last decade pointing in the opposite direction as gross mismanagement of coporate America turned it's direction to enriching themselves and shareholders short term at the expense of capital investment, bondholders, and others. So while I agree that: <GDP is the portion of the economy that is driven it is not the driver, the driver is the investment portion. > Record leverage of balance sheets to make money quick at the expense of of long term investment is the game wealthy people have been playing with their already low taxes. So at best I'd say your assumption is true to some extent some of the time, at worst this could be a period where the opposite might be true. On that point, I look at myself, prime beneficiary of a tax cut for the wealthy. My new investment money & savings has been going to Canada, Europe, and India. In the global economy I would argue that the assumption that wealthy beneficiaries of American tax cuts invest in American Jobs is misguided. Signs of this seem to be everywhere. SO, you really have a conflict of interest, don't cut the taxes of lower income because they spend it all [well, hell we know who NEEDS the money don't we? in their own neighborhoods no doubt BTW] in favour of those who one hopes will create jobs here at home where the cheap labour isn't. You have an American tax cut to create jobs overseas... but hopefully some here too, while ALL American citizens rack up the liability of the national debt. I can't agree more with Medicare, Medicaid, etc. The whole system is a mess... I see people coming in for a $60 check up doing $10 co-pays with all this paper work! WTF? DAK