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Old 10-14-2004, 10:55 AM   #16
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That's fine with me if Teresa's taxes get raised. I think its fine with her too. She'll still have a whole heck of alot more money than i'll ever dream of if her taxes go back up.
Does it bother you that the candidate who cries "close the loopholes" exploits loopholes to great affect?
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Old 10-14-2004, 12:43 PM   #17
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Would this have been your advice to FDR in the mid 1930's?


Take a longer view of the picture. Clinton enjoyed a great economy, but by the late 90's it overheated and headed into recession.
The debts now are in a all-time historical high, don't you think that's dangerous?
Think about this and the balance of trade and i get the feeling that Americas economy is in danger
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Old 10-14-2004, 02:49 PM   #18
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And Teresa Heinz Kerry.


I've seen reports that the effective tax rate for the Kerry family is lower than the average American
Isn't that what so many of the rich Americans have been saying all along about Bush's tax cuts. That they don't mind forgoing their tax cuts, as they already have a lot of money. This is also one of the plans of Kerry, to rollback the tax cuts for those earning more than $200,000.

And about the article, while the Nobel Prize winning economist does say that the total tax cut should be bigger, he doesn't say how it should be divided. What I found striking was this line:
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Tax rates were not cut enough," he said.

Lower tax rates provided an incentive to work, Prescott said.
With such a large proportion of the tax alleviation going to those with the highest incomes, I doubt if this would be the case. Will those earning over $500,000 (or even $200,000) suddenly want to work so much more, or even go to work? This may work with the lower and middle incomes, but not with the highest incomes.

Maybe the effect of the cuts would have been more positive if it had been geared more to the lower and middle incomes and less to the highest incomes...

C ya!

Marty
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Old 10-14-2004, 05:38 PM   #19
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The debts now are in a all-time historical high, don't you think that's dangerous?
Think about this and the balance of trade and i get the feeling that Americas economy is in danger
Debts during the Reagan era were "at an all time historical high". Yet, the economic base grew and the debts were gone within a decade (despite predictions that they would last for generations).
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Old 10-15-2004, 04:04 AM   #20
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reagan himself called the huge taxcuts at the begining of his presidential carieer a mistake and he raised taxes again
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