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----- Original Message -----
From: <A
title=mar.ko@xxxxxxxxxxx href="">Mark Simms
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Wednesday, May 28, 2003 12:33 AM
Subject: RE: [RT] Tax Cuts
<FONT color=#0000ff
size=2>Exactly....AMERICA - Land of the consumers; INDIA/CHINA - Land of the
producers.
We can't produce
anything except <bullshit> from lawyers and insurance companies in this
country anymore....that's our biggest product now.
Wait, I forgot
our beloved government...add them to the bullshit list with all of those
security consultants and analysts who so incompetently allowed 9-11 to happen.
Great job, guys..How much do you get paid again ?
<FONT color=#0000ff
size=2>
With H1-B and L1
visa programs promulgated by some liberal "I hate those overpaid techies"
senators,
the WHOOSH of
technology to overseas firms has been INCREDIBLE and without
PRECEDENT.
As a result,
America is losing technology dominance....a terrible,
long-term trend.
<FONT color=#0000ff
size=2>
What is your
government doing for YOU today ?
Bullshit is the
answer.
<FONT color=#0000ff
size=2>
<BLOCKQUOTE
>
<FONT face=Tahoma
size=2>-----Original Message-----From: Navtej S. Nandra (RR)
[mailto:nnandra@xxxxxxxxxx]Sent: Tuesday, May 27, 2003 10:08
PMTo: realtraders@xxxxxxxxxxxxxxxSubject: Re: [RT] Tax
Cuts
Can't speak to the current tax proposal and its
trade-offs, but here are some simplistic thoughts:
1) Investments create businesses create
jobs
2) Business and jobs create money velocity
and more investments
3) See 1) above
Any stimulus that helps investments in businesses
is good, because it creates income producing long term assets.
But right now, we are doing two things that do
not address the above. For one thing, we (as in the captains of
industry) are outsourcing our businesses overseas (manufacturing, commodities,
services) and for another, our (as in elected representatives) policies
support consumer income over business investments.
So we are not doing much to create US based
businesses and are using a subsidy from lower interest rates (via HELOCs,
mortgages) as well as tax give backs to create a consumer spending lift.
Much of which is paying for oil and goods that we import from
others.
Not suggesting we change interest rates or tax
policy or free trade ... but definitely suggesting that we should do something
meaningful that makes investment in US industry a better opportunity than
outsourcing.
I think a 3 year horizon will probably see
significant global money flow into countries like India, China, Vietnam,
Thailand, etc.
The good news? We continue to be the
world's largest consumers of stuff. So trade flows have to rely on us
and our (gasp) foreign policy.
----- Original Message -----
<BLOCKQUOTE
>
<DIV
>From:
Charles Marchand
To: <A
title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Tuesday, May 27, 2003 10:08
PM
Subject: Re: [RT] Tax Cuts
Kent,
Good points -- tax breaks for R&D, capital spending, etc. are
effectively tax cuts designed to stimulate some part of the
economy. Whether they work or not seems to depend on who you talk
to. Personal tax rates today are lower than the marginal rates of
up to 70% that prevailed for most of the post WWII period (90%
briefly during the Korean War), but we have the Alternative Minimum Tax
hitting a larger number of high income families every
year. The
elimination of taxes on dividends had an immediate impact on the
Utilities. Since money flees taxation, the dividend tax elimination
will probably continue to favorably impact dividend yielding Dow 30 /
SnP 500 stocks while drawing money from the Hope & Glory NAZ.
Will this weaken investment in new US technology? REITS don't
participate in the dividend tax relief. Will this take some air
out of real estate? Will this tax policy draw some widow and
orphans' money from CD's, bonds or T-Bills? What will be the
effect on foreign investment in the U. S. market? Will it be
extended beyond the three year period? I don't have a clue.
Ideas welcomed! BTW
-- Ref the suggestion that if you don't pay taxes, you don't vote --
30-odd years ago oilman HL Hunt floated a tongue-in-cheek proposition
that the more taxes you pay, the more votes you should have. He
suggested that people would be falling all over themselves to pay more
in taxes.Charles MarchandAt 01:21 PM 5/27/2003 -0400,
you wrote:>Also, it depends on which taxes are being cut and what
their relative level>is. If taxes are very low (which they are
not today), then tax cuts would>probably result in lower
revenue.>>Kent Rollins>>>----- Original
Message ----->From: "Charles Marchand"
<c_r@xxxxxxxxx>>To:
<realtraders@xxxxxxxxxxxxxxx>>Sent: Monday, May 26, 2003 11:29
PM>Subject: Re: [RT] Tax
Cuts>>>Lenny,>>
None of the
above.>>
Tax cuts and resulting governmental income do not happen in
a>vacuum. A, B, C might apply if there were no other
macro-economic factors>at work in the global or national
economy.>>
BTW -- Not interested in spin either.>>Charles
Marchand>>>At 09:43 PM 5/26/2003 -0400, you
wrote:> >Charles,> > Just so I'm
clear on your point of view and for the eyeballing public> >
record. Please respond to the following:> >> >Tax cuts
generate:> >> >A) More revenue to the US
Government.> >B) The same revenue as if there were no
cuts.> >C) Less revenue to the US Government.> >>
>Oh, just in case, please just answer the above question A, B or C. I'm
not> >interested in spin!!> >> >Thanks in
advance!> >Lenny> >> >In a message dated
5/26/2003 9:27:14 PM Eastern Daylight Time,> >c_r@xxxxxxxxx
writes:> >> >>Can't let this pass -- the Reagan tax
cuts have become a mantra of> >>Republican policy. Fact
is the tax cut of 1986 was accompanied by the> >>collapse of
oil prices. In January '86 prices went from over $25/BO
to>$10> >>or so. The US was using around
16,000,000 BO PER DAY. Do the math.> >>>
>>Charles Marchand> >> >> >>
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