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That's what happened in the Regan years- revenue went way up due to the tax
cuts, it's just that congress spent the additional revenue Plus alot more.
Steve
----- Original Message -----
From: "BobsKC" <bobskc@xxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, May 26, 2003 2:52 PM
Subject: Re: [RT] spx daily
> I believe his thinking is that if you reduce unemployment via the creation
> of jobs via spending by the public, you get a lot more tax money coming
in.
>
> Bob
>
> At 12:19 PM 5/26/2003 -0400, you wrote:
> >He has also stated a commitment to reduce the budget deficit. It remains
> >to be seen how the tax reduction he has argued for would accomplish that.
> >I haven't seen a single analysis that explains how this tax cut will
> >reduce the deficit.
> >
> >Regards
> >DanG
> >
> >Kent Rollins wrote:
> >>How is it inconsistent? First, he cut taxes. Then he cut taxes
> >>again. Seems consistent to me.
> >>
> >>Kent Rollins
> >>
> >>
> >>----- Original Message -----
> >>From: <mailto:TheGonch@xxxxxxxxxxx>Dan Goncharoff
> >>To: <mailto:realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
> >>Sent: Monday, May 26, 2003 4:47 AM
> >>Subject: Re: [RT] spx daily
> >>
> >>Bush may (or may not) be smart politically, but there is clearly a
> >>difference between his foreign policy team, which incorporates a
> >>diversity of views, and his economic team, where very member of the
> >>original team has quit or been pushed out. Bush seems to be lacking the
> >>economic policy equivalent of Rice, someone who defines a longer-term
> >>consistent message. Until he gets one, I will not trust Bush's policy to
> >>be well thought-out.
> >>
> >>That to me is the biggest reason to be worried about the future of the
US
> >>economy -- a president (or administration) that doesn't understand what
> >>it is doing can cause a lot of damage.
> >>
> >>Regards
> >>DanG
> >>
> >>Kent Rollins wrote:
> >>> >The current economic condition is SYSTEMIC....and thus resistant to
> >>> "Quick fixes".
> >>>
> >>>Three years of a down economy is not "quick". And "resistant" is not
> >>>impermeable.
> >>>
> >>> >Bush fired Laurel and Hardy (O'Neill and Lindsay) because they told
> >>> him you can't cut taxes, wage expensive war, and continue sponsoring a
> >>> huge, costly bureaucracy in Washington....it's economic suicide in the
> >>> long run.
> >>> >That's why he fired them....but THEY were right.
> >>>
> >>>If O'Neill and Lindsay were in your opinion right, then why do you
refer
> >>>to them as Laurel and Hardy. This is part of your problem, MASSIVE
> >>>Mark. You are overly critical of everything. We're either going to
> >>>have MASSIVE inflation or MASSIVE deflation. You don't care which as
> >>>long as it is MASSIVE and destructive.
> >>>
> >>> >These deficit projections are just the tip-of-the-iceberg.......and
> >>> incredibly, there is still no talk of government cut-backs in spending
> >>> programs and transfer payments.....just incredible !
> >>>
> >>>Bush is smart politically. There was a study done in the late 80's
that
> >>>said for every new dollar of tax money brought to the government by
> >>>economic growth, Washington spent $1.30 (or some figure like
> >>>that). That was the 80's. I doubt things have changed. Bush is
> >>>choking of Washington's money supply. That's the only way to get them
> >>>to reduce spending. It's the only way PERIOD. You seem to think that
> >>>these bigger deficits are a problem. Recently, there was a book
> >>>published that studied the effects of large national debts on
> >>>countries. England in the 1800's had a national debt that was 300% of
> >>>GDP. THAT'S MASSIVE, MARK. A number even you would appreciate. They
> >>>built up that debt thru wars and empire building. But it wasn't a
> >>>problem for England. They paid it off and now they are just fine.
> >>>
> >>>The only way to make Tiny Daschle say "Well, I guess we don't have
money
> >>>for new social-dependency (aka vote-buying) programs." is to put him in
> >>>a deficit position. What are the Dumocrats really complaining about
> >>>today? Listen carefully. They are complaining that they can't enact a
> >>>drug benenfits program (aka social dependency program, aka vote-buying
> >>>program). They are complaining that they can't make healthcare free
for
> >>>everyone. They don't want to pay down the debt. They want to take our
> >>>money from us and use it to make us dependent on a social welfare
> >>>State. Despite the fact that we know socialism and welfare
failed...MASSIVELY.
> >>>
> >>>The only way...THE ONLY WAY...to cut Washington's spending habit is to
> >>>take away their money. And THAT is exactly what Nucular George is
doing.
> >>>
> >>>Do you see anything in the world today that is going right, MASSIVE
> >>>Mark? Anything positive?
> >>>
> >>>Kent Rollins
> >>>
> >>>
> >>>----- Original Message -----
> >>>From: <mailto:mar.ko@xxxxxxxxxxx>Mark Simms
> >>>To: <mailto:realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
> >>>Sent: Sunday, May 25, 2003 12:55 AM
> >>>Subject: RE: Re[3]: [RT] spx daily
> >>>
> >>>I'm not thinking MASSIVE here, only LONG-TERM.
> >>>Part of my bearishness comes from the current high PE Ratios for
> >>>one....there just seems to be so much ANTICIPATION for a big recovery
here...
> >>>I don't see it, quite frankly.
> >>>Bush fired Laurel and Hardy (O'Neill and Lindsay) because they told
him
> >>>you can't cut taxes, wage expensive war, and continue sponsoring a
huge,
> >>>costly bureaucracy in Washington....it's economic suicide in the long
run.
> >>>Bush did not want to hear this....moreover, he's "dumb"...economically.
> >>>That's why he fired them....but THEY were right.
> >>>These deficit projections are just the tip-of-the-iceberg.......and
> >>>incredibly, there is still no talk of government cut-backs in spending
> >>>programs and transfer payments.....just incredible !
> >>>Unfortunately, Bush may be out of office before this is proven
correct.....
> >>>
> >>>
> >>>>-----Original Message-----
> >>>>From: Kent Rollins
> >>>>[<mailto:kentr@xxxxxxxxxxxxxx>mailto:kentr@xxxxxxxxxxxxxx]
> >>>>Sent: Friday, May 23, 2003 8:16 AM
> >>>>To: <mailto:realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
> >>>>Subject: Re: Re[3]: [RT] spx daily
> >>>>
> >>>>How can YOU ignore everything besides the tech sector? If everything
> >>>>but the tech sector has turned the corner on the economy, that sounds
> >>>>like a good thing to me.
> >>>>
> >>>>With respect to the "derivatives bubble", prove to me that there is
> >>>>one. This is the first I've heard about it. Lately, Warren Buffet
has
> >>>>been saying a lot of stuff with which I don't agree.
> >>>>
> >>>>FYI, consumers have been repairing their balance sheets as well.
Sorry
> >>>>I can't remember the numbers on that one either. It's not as dramatic
> >>>>as the improvements on the corporate side, but it was an improvement.
> >>>>
> >>>>So you're joining Simms on predicting MASSIVE Great Depression II.
> >>>>
> >>>>Kent Rollins
> >>>>
> >>>>
> >>>>----- Original Message -----
> >>>>From: <mailto:bradcline@xxxxxxxxx>Brad Cline
> >>>>To: <mailto:realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
> >>>>Sent: Friday, May 23, 2003 2:08 AM
> >>>>Subject: RE: Re[3]: [RT] spx daily
> >>>>
> >>>>How can you ignore the tech sector? That's like pro forma accounting.
> >>>>If I didn't have to make my house payment everything is rosy. The
> >>>>markets have seen their lows only if the derivitivies bubble doesn't
> >>>>burst, or consumer debt doesn't come home to roost. Warren Buffet has
> >>>>said that derivities are a "time bomb" waiting to happen. Maybe the
fed
> >>>>will be able to balance everything out over time but I wouldn't bet on
it.
> >>>>>-----Original Message-----
> >>>>>From: Kent Rollins
> >>>>>[<mailto:kentr@xxxxxxxxxxxxxx>mailto:kentr@xxxxxxxxxxxxxx]
> >>>>>Sent: Thursday, May 22, 2003 8:12 PM
> >>>>>To: <mailto:realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
> >>>>>Subject: Re: Re[3]: [RT] spx daily
> >>>>>
> >>>>>Corporations have been doing balance sheet repair for 2 years
> >>>>>now. AT&T alone has eliminate over $50 BILLION in debt. I saw on
the
> >>>>>tube last week someone who had a stunning statistic on what the S&P
> >>>>>profits are if you ignore the tech sector. Wish I could remember
what
> >>>>>that statistic was. And the tech sector will fall in line soon
> >>>>>enough. You are stuck in a rut. The markets have seen their
> >>>>>lows. Shake it off.
> >>>>>
> >>>>>Kent Rollins
> >>>>
> >>>>
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