Posted on 07/18/2002 1:35:12 PM PDT by churchillbuff
Edited on 09/03/2002 4:50:45 AM PDT by Jim Robinson. [history]
Read the story online. It says the Republican and conservative economists, and Wall Street economists, want Bush to press for more tax cuts - such as capital gains cuts - to help the tanking stock market. (And, I suppose, to make sure the GOP doesn't get clobbered in the coming election).
Unfortunately, like his dad in 1992, Bush isn't listening to these voices. He's content to let his long-term tax cuts kick in years from now - - - even though Americans are feeling the pain NOW.
(Excerpt) Read more at washingtonpost.com ...
...."But state party chairmen and elected members of the 165-member Republican National Committee, gathered here for their annual summer meeting, said privately that Democrats have several issues to use against Republicans, including and some said especially the Republicans' longtime image as the party of big business. " "We did it to ourselves," a party chairman from an Eastern state said bitterly in a confidential conversation with other Republican officials. He was referring to the party's nomination in 2000 of two men associated with businesses whose past practices came under scrutiny Mr. Bush and Vice President Richard B. Cheney. "Both the president's role at Harken Energy and the vice president's role at Halliburton have been the focus of scandal-hunting Democrats and reporters. "A New York Times poll released yesterday reported that 42 percent of Americans think Mr. Bush is more interested in protecting the interests of ordinary Americans but an equal percentage said he was more interested in protecting large corporations."""""
-----the problem with people with a big business affinity is that they don't understand the crushing tax burden borne by the average person - - - Bush Sr. didn't, and Bush Jr. - though I had hopes for him - - seems content to let taxes stay high for now, and drop (slightly) only later; and no cap gains cuts at all, thank very much. It's actually the little guy who benefits most from cap gains cuts, because it would help him get more capital and potentially get rich. Wealthy people already have capital - they've already made it or inherited it, and can park their bucks in tax-free gov't bonds. They're not nearly as concerned about tax cuts. Unfortunately, Bush is from that background. Reagan, in contrast, was from the lower-middle class - - - and he had an instinctive animmosity against high taxes.
Right; What do the ratings really prove?.
Klintoon, if you want to believe the polls, had a very high rating, even though he was impeached.
Regards
Thanx for the read. It was interesting. However, I didn't see anything about the present administration showing any leadership on the economy. The Fed has pumped huge amount of dollars into a highly manipulated economic system. This really took off on Clinton's watch. In fact his administration, I believe, was in the thick of cooking up the pyramid scheme that is beginning to collapse now. Pump zillions of dollars into the money supply, manipulate gold...the $...the stock markets...real estate...create a climate that encourages corporations to lie to keep up with the other guys....and you have the mother of all bubbles. The stock bubble is deflating...the $ bubble is deflating...and real estate will soon follow. The investors of the world have now caught on that the corporations were lying, resulting in lost confidence in our markets. Now foriegn investors are pulling and coverting. The downward spiral has begun....and it will take a long time to unwind. America is strong and will survive....but we need to be told the truth about this gigantic scam being pulled here. That is the leadership I am talking about. I just don't think Bush has the balls to come clean with America. And that is because he and his ilk, have at the least, been participents in the scheme...and may have actually been part of the implementation of the scheme.
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