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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (9160)	6/16/2004 10:50:07 PM
From: DavesM	Read Replies (1) \| Respond to of 90947

As the California budget deficit proves (California has one of the most progressive income tax schedules in the country), really rich people probably pay more taxes based on capital gains, than their salaries. I don't know if you have noticed, but stocks have retreated somewhat since March of 2000. This means that the "really rich", could easily avoid paying high taxes, by deferring capital gains (or offsetting them with the losses they suffered during the 2000 market crash - the Forbes 400 saw a combined net worth drop of many Billions during 2000-2002) You are correct that the recession has an official start date of March 2001, so it's Mr. Bush's recession. But it has now been shown that Enron was gaming in California from January 2000 till June 2001. Who was President from January 2000 till January 2001? And yes, Enron were Mr. Clinton's friends too. Now if you want to argue that Enron got more for their money from the Clinton Administration than the Bush Administration, you'll get no argument from me. If you want to argue that the Clinton Administration was determined to allow the free market time to work (or fix itself), during the California Energy Crisis, you won't get an argument from me either. "Scrutinizing about 750 pages of financial documents called "inc sheets" and hours of day-trading tapes, PUD officials said it appears Enron manipulated energy markets 88 percent of the time it made trades from January 2000 to June 2001" billingsgazette.com