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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (218245)	2/13/2007 5:51:10 PM
From: jttmab	Read Replies (2) \| Respond to of 281500

Oops. I accidentally clicked recommend instead of reply. Just in case you're wondering why someone rec'ed your post. :o) I think the big take away is how insignificant tax code changes are in the context of consumer spending. Year to year the Federal Budget changes in the Billions. Sounds like big money. The changes in the tax code [or other taxes] only change by a relatively small percentage of the entire tax bite. A couple % either way of the Federal revenues. The mean household gets refunded the cost of a couple of dinners or loses a couple of dinners out. But consumer debt. That's something else. "($30 trillion) of this debt was created since 1990". Now we're talking some serious money and that's just new debt! It also illustrates why banks were so hot to get bankruptcy filings tightened up. jttmab