01-06-2003 04:43									#31
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btw, John Snow is still sticking by his prediction that the tax cuts will create so much growth that the deficits will take care of themselves.

quote: US's Snow: Tax Cuts Put Economy on Growth Path Wed May 28, 2:12 PM ET Add Politics to My Yahoo! WASHINGTON (Reuters) - U.S. Treasury Secretary John Snow said the $350 billion in tax cuts President Bush (news - web sites) will sign into law Wednesday will put the economy on a solid growth path and rising deficits will take care of themselves.

	01-06-2003 04:46									#32
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The $1000 costs the government 10 times as much

	01-06-2003 04:48									#33
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[quotebtw, John Snow is still sticking by his prediction that the tax cuts will create so much growth that the deficits will take care of themselves.[/quote]

-Are you sure this wasn't meant for the stupidest thing people have said thread?

	01-06-2003 04:48									#34
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quote: Originally posted by Victor Galis The $1000 costs the government 10 times as much

And? The $1000 for the middle income bracket will have ten times the effect that a $100 tax cut for a lower income bracket would. Thus more economic growth and that will cover the costs of the tax cut itself.

	01-06-2003 04:49									#35
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quote: And? The $1000 for the middle income bracket will have ten times the effect that a $100 tax cut for a lower income bracket would. Thus more economic growth and that will cover the costs of the tax cut itself.

-Yeah, but by that token, why not just give $1000 to the poorest people. You know they don't have everything they need already, so they're more likely to go out and spend it. $100 given to anyone in this country would have no effect.

	01-06-2003 04:50									#36
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quote: Originally posted by Kidicious btw, John Snow is still sticking by his prediction that the tax cuts will create so much growth that the deficits will take care of themselves.

Snow is an idiot.

	01-06-2003 04:51									#37
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quote: Originally posted by Victor Galis -Yeah, but by that token, why not just give $1000 to the poorest people. You know they don't have everything they need already, so they're more likely to go out and spend it. $100 given to anyone in this country would have no effect.

	01-06-2003 05:13									#38
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Ten Nobel laureate economists signed a statemment that says this about Bush's tax cut:

quote: Passing these tax cuts will worsen the long-term budget outlook, adding to the nation's projected chronic deficits. This fiscal deteriation will reduce the capacity of the government to finance Social Security and Medicare benefits as well as investments in schools, health, infrastructure, and basic research. Moreover, the proposed tax cuts will generate further inequities in after-tax income.

	01-06-2003 05:19									#39
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quote: Originally posted by Victor Galis [quotebtw, John Snow is still sticking by his prediction that the tax cuts will create so much growth that the deficits will take care of themselves.

-Are you sure this wasn't meant for the stupidest thing people have said thread? [/QUOTE]

It's there

	01-06-2003 05:25									#40
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quote: Originally posted by Victor Galis -Yeah, but by that token, why not just give $1000 to the poorest people. You know they don't have everything they need already, so they're more likely to go out and spend it. $100 given to anyone in this country would have no effect.

That isn't really true. I would say otherwise. Give it to the middle class. And besides being the conservative I am, I will have to stick to that.

That idea you propose is too socialist. Though I wouldn't be against some tax relief for the poor.

	01-06-2003 05:49									#41
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I'm not proposing giving the poor $1000, merely saying that if we did, it would be better or the same as giving that to the middle class.

What I really object to is giving the rich a big tax cut at a time when we're in a budget deficit. The tax cut just forces the government to borrow more money, cutting the supply of money and raising interest rates for anyone else trying to borrow money.

	01-06-2003 05:51									#42
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What I really would have preffered to see instead, had we been able to afford a tax cut, would have been a provision eliminating the capital gains tax on the first $2,500 or so to encourage middle class investors. I don't think you'll see much willingness to reinvest from the big guys at a time when the economy is still sluggish. More likely, they'll just pocket the money.

edit: Of course I would have liked some income tax cuts for lower and middle class people, but in reality, I don't much like tax cuts when the budget is already deep in the red.

	01-06-2003 06:19									#43
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quote: Originally posted by Victor Galis I'm not proposing giving the poor $1000, merely saying that if we did, it would be better or the same as giving that to the middle class.

In my opinion it is the middle class that deserves it as they are the backbone of the country.

quote: What I really object to is giving the rich a big tax cut at a time when we're in a budget deficit. The tax cut just forces the government to borrow more money, cutting the supply of money and raising interest rates for anyone else trying to borrow money.

Well Bush's tax cuts aren't those.

When the country is in trouble, a good way to stimulate growth is to cut taxes.

	01-06-2003 06:45									#44
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Yeah, but I'd rather see taxes cut to people than corporations. Dividend tax cut? Heh, I make like $3.20 in dividends each year, gee thanks. Most stocks nowadays don't even pay dividends. I challenge you to find one person who said "Wow, dividend taxes are so high, I think I'll invest elsewhere." Heck does anyone even look at dividends, when investing anymore?

	01-06-2003 06:47									#45
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Well that is your opinion buddy, try not to rub in other peoples faces. I am trying to do that. And besides I do think cutting dividend tax will help the country.

	01-06-2003 08:06									#46
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quote: Originally posted by Victor Galis Yeah, but I'd rather see taxes cut to people than corporations. Dividend tax cut? Heh, I make like $3.20 in dividends each year, gee thanks. Most stocks nowadays don't even pay dividends. I challenge you to find one person who said "Wow, dividend taxes are so high, I think I'll invest elsewhere." Heck does anyone even look at dividends, when investing anymore?

Buying stock doesn't necessarily mean that you are increasing business investment. Only new issues are used to invest in business expansion.

	01-06-2003 08:09									#47
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I don't think you'll see much willingness to reinvest from the big guys at a time when the economy is still sluggish. More likely, they'll just pocket the money.

What are they going to do? Just put it in their mattress?

	01-06-2003 08:11									#48
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The're going to buy stocks .

And as the deficits increase they are going to buy bonds.

	01-06-2003 11:47									#49
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quote: Originally posted by Victor Galis What I really would have preffered to see instead, had we been able to afford a tax cut, would have been a provision eliminating the capital gains tax on the first $2,500 or so to encourage middle class investors. I don't think you'll see much willingness to reinvest from the big guys at a time when the economy is still sluggish. More likely, they'll just pocket the money. edit: Of course I would have liked some income tax cuts for lower and middle class people, but in reality, I don't much like tax cuts when the budget is already deep in the red.

Victor, why not eliminate the cap gains tax on the first $25k? That way, you don't worry about shafting millions of elderly people who haven't had the benefit of 401(k) plans, while still maintaining the "progressivity" of such a tax.

	01-06-2003 13:37									#50
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Because suggesting $25K, would possibly have a large impact on the budget deficit, and I don't have the numbers required to make a decision in that case.

	02-06-2003 01:51									#51
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This Bush tax cut is stupid. The problem with the economy is that consumers aren't spending. Business has an excess of inventory. I fail to see how giving business more tax cuts will help consumers spend. Target the tax cuts to poor and middle classes. They will spend. Trickle-up economics makes much more sense than the bullsh1t trickle-down.

	02-06-2003 01:53									#52
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quote: Originally posted by Sava This Bush tax cut is stupid. The problem with the economy is that consumers aren't spending. Business has an excess of inventory. I fail to see how giving business more tax cuts will help consumers spend. Target the tax cuts to poor and middle classes. They will spend. Trickle-up economics makes much more sense than the bullsh1t trickle-down.

Right.. so lets increase taxes. And by the way, the tax cuts are directed at the middle class. You don't care about the middle class, you only want to cut taxes for the poor while the middle class suffer more.

	02-06-2003 01:54									#53
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Fez, if you are going to respond to things I say, DON'T MAKE SH!T UP!

	02-06-2003 01:57									#54
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quote: Originally posted by Sava Fez, if you are going to respond to things I say, DON'T MAKE SH!T UP!

You make **** up. Like that quote in your signature.. I don't recall Eisenhower ever saying that out of all the quotations I have found.

	02-06-2003 01:58									#55
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quote: Originally posted by Fez You make **** up. Like that quote in your signature.. I don't recall Eisenhower ever saying that out of all the quotations I have found.

Likely not as Eisenhower has been dead since before you were born.

	02-06-2003 02:00									#56
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Oooohhhh, Fezzy: http://www.maller.com/quotes/defaul...t%20D.%20Eisenh

	02-06-2003 02:01									#57
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quote: Originally posted by Fez You make **** up. Like that quote in your signature.. I don't recall Eisenhower ever saying that out of all the quotations I have found.

http://www.quotationspage.com/quote...t_D._Eisenhower

Fez, your diahrea of the mouth needs to stop. I don't mind your usual right-wing/fascist blather, but when you make things up, put words in my mouth, and accuse me of saying the EXACT OPPOSITE OF WHAT I SAID; I get aggravated.

Case in point...
I said: "Target the tax cuts to poor and middle classes. They will spend."
You said: "You don't care about the middle class"

	02-06-2003 02:05									#58
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Ike is ****ing great.

	02-06-2003 02:18									#59
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I also claim targeting the middle class with a tax cut. But I also want the rich to receive some benefits too as they pay the most taxes.

quote: Likely not as Eisenhower has been dead since before you were born.

Read my post again.

	02-06-2003 02:20									#60
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quote: So lets increase taxes. Send the demand down even further.

Who said anything about increasing taxes? I certainly didnt. There are better ways to stimulate the economy.