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To: Enigma who wrote (9947)	4/14/1998 2:08:00 PM
From: Alan Whirlwind	Read Replies (1) \| Respond to of 116759

When one citizen is taxed by point of bayonet to subsidize the existence of another citizen who not only shows no gratitude, but complains about how they are expected to live on so little, the first stone has already been cast. I'm not talking here about blind or otherwise handicapped people who might need assistance; no one is bitching about that. The Good Book says that if one isn't going to give with a cheerful heart, it is best not to give. It also says that he who is able to work and does not work should not eat. Here you have legislating politicians of questionable motive forcing people who don't want to give to give to people who want to eat but don't want to work. If this isn't absurd I don't know what is. And as for the "wild west dog eat dog era" I have my 45 hanging over there by the fireplace--how about you? --AG

To: Enigma who wrote (9947)	4/14/1998 2:35:00 PM
From: Abner Hosmer	Read Replies (3) \| Respond to of 116759

enigma - I have to concede that you are right on this score. We live in a mixed economy and that is the reality. And it's perhaps not the worst of all possible worlds either. Frankly, I think most everyone is doing pretty good right now and I believe that the level of civil discord in the US is currently lower than it's ever been in my lifetime. We have not seen such favorable economic conditions in this country for probably more than 30 years, and both the domestic and world political environments are far, far more favorable than they were then. I am leaning towards the view that this bull market in equities can continue to run for some time. Yes, valuations are at or approaching historical highs, but I don't think it really matters right now. This bull has for thousands of points continued to roll over those who entertain such archaic concerns. The market has basically ignored them completely and instead focused upon the favorable economic environment in which we are operating, and there is absolutely no reason I can think of to believe that it won't continue to do so. Did you hear the inflation numbers again this morning? Non-existent. I know many will argue with this fact, but I think that it is essentially correct. Once again, inflation adjusted petrol prices are probably lower now than they have ever been in my lifetime, and I am old enough to remember .25 gasoline. During the last big inflation that we had, I was just getting my legs out from under my fathers table and I remember that every time I visited the grocery store it seemed like prices had leaped. These past years have been nothing like those. Money is continuing to pour into the market, salaries have started to rise a bit as inflation remains tame. Retail sales were off, I think, there are signs the economy may be cooling a bit. Is there anyone who thinks that we cannot ultimately see P/E ratios of 40 if this continues? The question is of course for how long these favorable conditions can be maintained, but I think serious consideration has to be given to the possibility that it can go on for some time. The immediate question that must be addressed probably is whether the current lag in corporate profits is more than temporary or whether the pace of growth that we have enjoyed for the past few years may shortly be resumed. I would appreciate it if anyone can shed some light on this question. Another thing, I think we are going to continue to see good demand for IT products as industry consolidation continues and as greater efficiency is realized through the management of information resources. I think it's true that in many ways this economy has become much more efficient than it used to be. If you have excess fat or overhead in your organization, if you do not manage inventory efficiently, if you do not satisy the demands of the customer, or if you are slow to respond to the changes in the marketplace or technology, you are gone.

To: Enigma who wrote (9947)	4/15/1998 5:31:00 PM
From: goldsnow	Respond to of 116759

Tax Group Declares May 10 Tax Freedom Day 03:55 p.m Apr 15, 1998 Eastern WASHINGTON (Reuters) - The average U.S. taxpayer will not earn enough to pay his total 1998 federal, state and local tax bills until May 10, the latest date ever, according to a report released on Wednesday. The conservative-leaning private Tax Foundation said this year's projected Tax Freedom Day is one day later than the previous highwater mark set in 1997, and reflected a steady rise in the tax burden faced by Americans in recent years. ''Since 1993, the tax burden borne by Americans has grown markedly. During this period the time that Americans have had to spend working for the government increased by 10 days,'' the group's report said. Reasons for the rising burden were federal tax increases in the early 1990s and the booming U.S. economy. ''The second factor is the continued economic expansion, which, because of the structure of the current tax system, tends to fill government coffers faster than Americans' pocketbooks,'' the report said. In formulating their data, the group figured a total tax burden on the average taxpayer at 35.4 percent for 1998. On a state-by-state basis, the foundation found residents of Connecticut and Wisconsin bearing the nation's heaviest tax burdens. Connecticut taxpayers will have to work for the government until May 26, and citizens of Wisconsin to May 17. New Hampshire and Alaska enjoy the lowest taxes, with residents in both states expected to clear their levies before the end of April. Tax Foundation recommendations for lowering tax burdens included an an outright lowering of rates, or altering the structure of the current tax system. ''The current combination of federal, state and local taxes is progressive, meaning that as national income rises, the tax burden rises more than proportionally,'' the report said. The Tax Foundation is a non-profit, non-partisan research and public education organization monitoring tax and fiscal activities at all levels of government since 1937. Its methodology came under fire Tuesday, when the liberal Center for Budget and Policy Priorities charged the group with using inaccurate data, inflating tax rates. J.D. Foster, Tax Foundation executive director and chief economist, called the charges ''so wide of the mark as to be absurd.'' Copyright 1998 Reuters Limited

To: Enigma who wrote (9947)	4/15/1998 5:38:00 PM
From: goldsnow	Respond to of 116759

Republicans Brace for Starr Sex-Perjury Report 03:54 p.m Apr 15, 1998 Eastern By Gene Gibbons WASHINGTON (Reuters) - The Republican-controlled Congress may soon be juggling a political hand grenade: a report from Kenneth Starr on his investigation of sex, perjury and financial allegations against President Clinton. Republicans have the unenviable choice of either tangling with a popular Democratic president over issues the public clearly finds distasteful, or exposing themselves to charges from their party's fiercely anti-Clinton conservative wing of shirking their constitutional duty to uphold the rule of law. ''They're scared to death of moving forward on it because they're afraid that the public isn't behind them. It's a good example of how the law and public opinion sometimes don't intersect,'' said presidential historian Henry Graff. Starr has little leeway. Under the statute that authorizes his endeavors, the independent counsel is required to refer to the House of Representatives ''any substantial and credible information'' that ''may constitute grounds for impeachment.'' So, sometime in late May, most analysts expect Starr to turn over the results of his nearly four-year, $30 million probe of Clinton business deals in Arkansas and an assortment of alleged White House misdeeds, including a purported conspiracy to cover up sexual liaisons with former intern Monica Lewinsky. Lurking in the background is the Paula Jones sexual harassment suit against Clinton. The suit itself has been dismissed -- an appeal is possible -- but the Jones matter served to bring tawdry allegations about Clinton's sex life into the headlines. House Republican leaders have quietly begun making plans for dealing with Starr's referral. ''The assumption is that there will be something, but it is still an assumption -- no-one has been in contact with Starr's office. We are preparing different contingencies in the event that happens,'' a key Republican aide told Reuters. Another source close to the Republican leadership said that Rep. Henry Hyde, the respected chairman of the House Judiciary Committee, is certain to head whatever proceeding takes place. The initial review of Starr's prospective report is likely to be conducted by a special House panel or task force that will be bipartisan in nature and drawn largely from the membership of the Judiciary Committee, the source said. The source explained that such a procedure is probably necessary to prevent a ''torrent of leaks'' of sensitive grand jury information. Regular House procedures give any member of the House the right to see anything in the files of any standing committee. The leadership source said public hearings would be likely soon after a referral is received, unlike a 1974 House inquiry into Watergate-related offenses that helped drive President Richard Nixon from office. In the 1974 model, there were closed-door hearings for more than two months to lay the groundwork for a public airing of the case against Nixon. ''That kind of approach wouldn't work in the current era,'' the leadership source said. Clinton's job approval rating in a recent Time Magazine/CNN poll stood at 67 percent, close to his all-time high. Reflecting the touchy nature of the congressional follow-up to Starr's unpopular inquiry, 60 percent of those polled wanted Congress to investigate further, but 76 percent said they opposed impeachment. The Republican aide said this could change once Starr wraps up his work. ''Public opinion is fickle, and like the Republican leadership, the public is very much in the dark about precisely what Starr has or doesn't have,'' this source said. Graff, a Columbia University professor, predicted Clinton would ride out the worst political crisis of his presidency regardless of Starr's findings. ''Even the British don't commit regicide more than once in a century. We've already had our regicide in this century -- Nixon's resignation in 1974,'' he said. Copyright 1998 Reuters Limited.