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To: Terry Whitman who wrote (22305)	2/27/1999 1:10:00 PM
From: Bonnie Bear	Read Replies (1) \| Respond to of 86076

they have a sweet spot right now....devalue with respect to what? The US has the most efficient tax-collection machinery in the world. Japan will quickly find itself in raging deficit if it has to pay higher debt payments. The euro will be chaos for a while. Greenspan's biggest problem is social security and medicare...I got the numbers here, 44 million americans are collecting social security and medicare, average cost around $1000 a month or 45B/month..are the numbers are increasing while the number of taxpaying workers is declining. To keep the gov from going bankrupt, greenspan has to eliminate cost-of-living increases...so by setting inflation to zero, he sets the COLA to zero. As wages rise, the marginal tax rates stay fixed so they effectively are increasing worker taxes and decreasing benefits this way.