[rohry]

What is surprising as we celebrate this Independence is a movement in this land to raise taxes even more. If that happens, or if Gephart gets his wish and becomes Speaker of the House after the November elections, he is calling for raising taxes even higher. He wants to raise capital gains taxes, income taxes, and possibly estate taxes. If that happens the U.S. will enter phase two of the tax revolt. The last tax revolt was at the ballot box in 1994 after Clinton and a Democratically controlled Congress raised taxes on income and social security in 1993. The result was a tax revolt, which gave control of Congress to the Republicans. When they no longer held on to their principles, they lost their majority in the Senate.

[rohry]

Market WrapUp is delivered...

Have a good 4th of July!

[sarcasm]

I've been warning for months that state and local taxes are going to skyrocket after the November elections - check this out:

States Drain Rainy Day Funds

[Grut]

On December 16, 1773, patriots said, "No more taxes!"

Talk about unintended consequences!

[jwh_Denver]

Hmmmm giving up citizenship. I wonder what the downside to this would be. Not being able vote for some idiot that I dislike less than some other complete idiot? I'm going to look into this.

I'm afraid our government has turned into a monster. What's worse there's more and more talk of things that will make it more so. Insanity is on the rise and complacency is rampart while I'm about ready to forget about gold and stock up on lead.

[arete]

Higher volume levels supported today’s rally in the markets.

I have to ask myself just who in their right mind would be buying now? All I can figure is that they are betting on no terrorist attack over the holiday and that the market will rally on that next week. I'm not buying any of it. I still see July as another down month. Just my opinion.

Richard W.

[AAABEST]

TAX REVOLT

I can't seem to get enough of this phrase. Ever since my mom mentioned it the other day.

By the way, my mom is someone who's done nothing but try to pay her taxes properly and on time and is actually having health problems because of what scumbag tax collectors are doing to her.

She's about as revolutionary as Miss Manners.

I had a tax collector call my house a few weeks ago, but that's another story.

[Starwind]

From the article:
What is surprising as we celebrate this Independence is a movement in this land to raise taxes even more. If that happens, or if Gephart gets his wish and becomes Speaker of the House after the November elections, he is calling for raising taxes even higher. He wants to raise capital gains taxes, income taxes, and possibly estate taxes. If that happens the U.S. will enter phase two of the tax revolt. The last tax revolt was at the ballot box in 1994 after Clinton and a Democratically controlled Congress raised taxes on income and social security in 1993. The result was a tax revolt, which gave control of Congress to the Republicans. When they no longer held on to their principles, they lost their majority in the Senate.

Comments on Republicans holding their principles (whatever those are)?

[bimbo]

When they no longer held on to their principles, they lost their majority in the Senate.

How quickly the Republicans became big-government, tax-and-spend liberals governing the country! And the "conservatives" I talk to, all seem to think that the Republicans will ride to electoral glory on the coattails of G.W. Bush and his war on terror. As much as I would hate to see the Democrats running all of Congress, I think we are going to see the next Democrat coup - they are ruthless political experts; they act as if they have a birthright to govern; and they will have a winning issue before autumn.

Right now, their media allies are anesthetizing the conservative electorate, with confidence-boosting "high poll numbers."

[headsonpikes]

HAPPY 4th of JULY!!!

Woo-Hoo!!

[evaporation-plus]

>Market breadth was positive by 19 to 12 on
>the big board and 19 to 15 on the Nasdaq.

Love the report, but I believe the breadth was
negative, and the numbers were correct, NO?

Early in the afternoon, when the index's started to
go green, declines outnumbered advances by 2 to 1 on
both exchanges. The fix was in.......