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<DIV><FONT face=Arial size=2>Jim White<BR>PIVOT Research & Trading
Inc.</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Tue Jul 27 23:45:20 1999
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To: Realtraders@xxxxxxxxxxxx
Subject: GEN: Y2K EXTREMISM
Message-ID: <19990728.003654.9991.3.sail4@xxxxxxxx>
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From: "Richard C. Fredette" <sail4@xxxxxxxx>
Date: Wed, 28 Jul 1999 00:37:31 EDT
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Status:
Bruce,
Revenues will increase when you stimulate the economy through deficit
financing and that's what happened during the Reagan years. The problem
is that eventually you have to pay the piper. We saw what happened as
the debt spun out of control. This kind of prosperity can ony be short
term. I don't see how supply side economics was proven to be a success
from this experience.
Dick
On Mon, 26 Jul 1999 23:21:22 -0400 "BruceB" <bruceb@xxxxxxxxxxxxx>
writes:
>Dick,
>
>Just out of curiosity, when congress lowered the capital gains tax
>RATE a
>couple of years ago, did the tax REVENUE flowing into the Treasury
>from that
>tax go up or down? When Reagan cut the personal income tax RATES in
>the
>early eighties, did personal income tax REVENUE go up or down? How
>about
>when Kennedy cut the same tax rates in the early sixties?
>
>Don't underestimate supply side economics.
>
>Bruce
>
>----- Original Message -----
>From: Richard C. Fredette <sail4@xxxxxxxx>
>To: <Realtraders@xxxxxxxxxxxx>
>Sent: Monday, July 26, 1999 12:23 AM
>Subject: Re: GEN: Y2K EXTREMISM:Debt Myth Dispelled!
>
>
>> Ira,
>>
>> The debt was accumulated not because we spent too much alone, but
>> because we spent without the willingness to tax in order to pay for
>it.
>> Now we want to tax even less before we have even paid down some of
>that
>> debt, with the prospect that the debt will be worse than ever down
>road
>> when the boomers retire. Spending less will never pay off the debt
>as
>> long as revenues fall short of spending. Oh, I forgot, supply side
>> economics will cure that. New math didn't make it in the schools,
>but I
>> guess it did in congress.
>>
>> Dick
>>
>
>
--------- End forwarded message ----------
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