Bush Unveils $674 Billion Economic Plan

Reuters via Yahoo ^ | 1/7/03

[concerned about politics]

actually $20/week extra equals an extra pizza/week.

Not us!! We made $9,400 dollars off a $600 investment last year! We're eating steak!

[cake_crumb]

WOW...a Reuters article that stated the facts and didn't add an extra four hundred words of Democrat rhetoric to show the public that Dems love people and President Bush is an EEEEEVEEEEL BUSINESSMAN.

[Dog Gone]

Remember, with a 401(k) plan, you put in money, not stock, and you withdraw money, not stock.

That's odd. In all my 401(k)s, my company is contributing stock, and I can contribute money, stock, bonds, or any combination.

[krodriguesdc]

that's great!

[concerned about politics]

I doubt that couples who make $39,000/yr are into investing...

After the 2002 election, pollsters said something like 54% of the population plays the market, and the numbers continue to grow daily. That's why they're predicting a new Republican voter generation comming.

[concerned about politics]

The real stinker is those of us who pay private school tuition and have to belly up the taxes for the public school which we choose not to use because it is incompetent! Aaaargghh!

We homeschool. We're also forced to pay for a horse that's been dead and decaying for more than a generation!

[muawiyah]

But how do you get your money OUT of a 401(k)? That's the issue. Do you withdraw it as income, or is somebody handing you actual stock certificates (when the time comes that you are eligibile.)

My 401(k) offers a number of options - stock, T-bills, bonds. The plan, however, only pays out in CASH!

The White House and their posted plan do not tell us about 401(k) plans. I suspect their intention is to not adjust 401(k) "at this time" (if ever!)

[Wphile]

Well, I was responding to Pelosi's assertion that earnings in a 401(k) are never taxed.

You are right that W didn't say anything about eliminating the tax on 401(k) withdrawals and your analysis is correct in that the 401(k) may become less attractive since now just your regular investments can earn dividends without being taxed. However, you still get a tax deferral with a 401(k) versus just direct investment.

[krodriguesdc]

I hope so...

$20/week won't get too much, though!

[Willie Green]

WHERE ARE THE SPENDING CUTS?

In the dumpster with the rest of the economy.
Dubya's proposal is a farce.
His trade policies will short circuit any trickle-down "stimulus" potential,
and likely promote economic investment, growth and jobs in Mexico, India and China before our own economy.
And as you note, the lack of spending cuts will only serve to compound the revenue shortfall, sinking us further into Debt.

[Wphile]

We made $9,400 dollars off a $600 investment last year.

Really? Wow...could I use your broker?

[.30Carbine]

Part of the reason he has the leverage to get what he wants NOW, is because he compromised BEFORE.

I see the wisdom now in Bush agreeing to the gradual implementation of his tax cuts. Today he was able to say that if those cuts are good enough for Americans three years from now, those cuts are good enough for Americans right now! I saw immediately the incrementalism of his approach, which I did not trust when the tax cut plan was first passed. But back then we had no way of knowing how big President Bush's coattails would be, and how dramatic Republican wins would be on Nov. 5.

[MindyW]

>>Everyone does NOT pay payroll taxes. Everyone who gets a paycheck, pays payroll taxes...what is your point?

You're wrong. I worked for the Feds for 11 years and paid no payroll taxes. I paid into the Civil Service Retirement Fund. Also, nobody in Congress pays payroll taxes on their congressional earnings. A lot of local governmental agencies also have their own retirement systems and they pay no social security taxes.

[EBUCK]

discipline spending in Washington

I've seen no evidence of any such thing. They're up there spending like there is no tomorrow. I'll certainly enjoy an extra grand though (1700 maybe) but without corrosponding cuts in spending they'll just take it back when the rent comes due.

EBUCK

[concerned about politics]

$20/week won't get too much, though!

Hell, we'll take it! That's $1,040 per yr.
Put that in the market like we did our $600, and using our "passion with presision", we could turn that into quite a chunk of cash! I have noooooo complaints!

[concerned about politics]

Really? Wow...could I use your broker?

We don't use a broker. We use this here 'ol 56K dial up.

[Uncle Jaque]

RE: 113 posted on 01/07/2003 3:13 PM EST by ohioWfan:
"Wait and see what happens with those things he gave up to get the BIG fish, now that he has a Congress that will support him."

Geez, I hope that you're right on that!

I kept trying to cling to the hope that there was some grand scheme behind all of that capitulation, but the grip was getting increasingly tenuous with each whimp-out.

A good indicator would be to get rid of those complete waste of space hot air bag buffoons Norm Minetta of Transportation
and Old what's-his-name running around with the "Homeland Defence" fiasco as if he had a clue, and appoint someone who really does.

[Karsus]

I know of one, they have stoped printing the mass layoff report at the BLS. You must have seen it, after all, they announced it on Dec 24...

[.30Carbine]

I think that cute little 'muffler' thing may have been the beginning of the end for our little friend, tommy! :o)

He will be hoisted on his own catalytic converter!

[GraniteStateConservative]

Single voters vote Democrat. That's why we in the GOP don't care about you.