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The richest 37,000 people in this country have, in aggregate,
the same income as the poorest 61,000,000. Maybe it's OK for them to pay
some taxes.
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----- Original Message -----
<DIV
>From:
BobsKC
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, May 06, 2004 4:00
PM
Subject: Re: [RT] sp500/nasdaq top
Great story. Heard it before but had forgotten about
it. Bottom line is that the top few percent of tax payers pay most of
the income taxes but democrats want it all. Bush should win this
upcoming election by a wide margin but in four years, God help us all because
I don't see much of anything stopping Hillary considering the huge percentage
of women who claim they will vote for her and it's my opinion she pushed for
Kerry so Bush would win and she can run against a non-sitting republican in
2008. The Clintons still maintain a death grip on the
D.N.C.Thanks,BobAt 08:16 AM 3/6/2004 -0800, you
wrote:
Speaking of low taxes, I don't
believe that the author noted at the bottom wrote this, but it is an
interesting analogy. Sometimes Politicians can exclaim; "It's
just a tax cut for the rich!", and it is just accepted to be fact. But what
does that really mean? Justin case you are not completely clear on this
issue, we hope the following will help.Tax Cuts - A Simple Lesson In
EconomicsThis is how the cookie crumbles. Please read it
carefully.Let's put tax cuts in terms everyone can understand.
Suppose that every day, ten men go out for dinner.The bill for all ten
comes to $100. If they paid their bill the way we pay our taxes, it would go
something like this:The first four men (the poorest) would pay
nothing.The fifth would pay $1.The sixth would pay $3.The
seventh $7.The eighth $12.The ninth $18.The tenth man (the
richest) would pay $59.So, that's what they decided to
do.The ten men ate dinner in the restaurant every day and seemed
quite happy with the arrangement, until one day, the owner threw them a
curve."Since you are all such good customers," he said, "I'm going
to reduce the cost of your daily meal by $20."So, now dinner for the
ten only cost $80. The group still wanted to pay their bill the way we pay
our taxes.So, the first four men were unaffected.They would
still eat for free. But what about the other six, the paying
customers?How could they divvy up the $20 windfall so that everyone
would get his 'fair share'?The six men realized that $20 divided by
six is $3.33.But if they subtracted that from everybody's share, then
the fifth man and the sixth man would each end up being 'PAID' to eat their
meal.So, the restaurant owner suggested that it would be fair to
reduce each man's bill by roughly the same amount, and he proceeded to work
out the amounts each should pay.And so:The
fifth man, like the first four, now paid nothing (100% savings).The
sixth now paid $2 instead of $3 (33% savings).The seventh now paid $5
instead of $7 (28% savings).The eighth now paid $9 instead of $12 (25%
savings).The ninth now paid $14 instead of $18 (22% savings).The
tenth now paid $49 instead of $59 (16% savings).Each of the six was
better off than before. And the first four continued to eat for free.But
once outside the restaurant, the men began to compare their
savings."I only got a dollar out of the $20," declared the sixth
man.He pointed to the tenth man "but he got $10!""Yeah, that's
right," exclaimed the fifth man. "I only saved a dollar, too.It's unfair
that he got ten times more than me!""That's true!!" shouted the
seventh man."Why should he get $10 back when I got only $2? The wealthy
get all the breaks!""Wait a minute," yelled the first four men in
unison."We didn't get anything at all. The system exploits the
poor!"The nine men surrounded the tenth and beat him up.The
next night the tenth man didn't show up for dinner, so the nine sat down and
ate without him.But when it came time to pay the bill, they discovered
something important.They didn't have enough money between all of them
for even half of the bill!And that, boys and girls, journalists and
college professors, is how our tax system works.The people who pay the
highest taxes get the most benefit from a tax reduction.Tax them too
much, attack them for being wealthy, and they just may not show up at the
table anymore.There are lots of good restaurants in Europe and the
Caribbean.David R. Kamerschen, Ph.D.Distinguished Professor of
Economics536 Brooks HallUniversity of Georgia
----- Original Message -----
From: delta88343@xxxxxxx
To: <A
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Saturday, March 06, 2004 5:36 AM
Subject: Re: [RT] sp500/nasdaq top
In a message dated 3/5/04 12:08:51 PM Eastern Standard Time, <A
href="">mr.ira@xxxxxxxxxxxxx writes:
The government still claims that there is no
inflation. Gas prices are $2.50 per Gal. here. Almost
everything that is purchased is transported by truck. That cost will
also be on the rise.
Housing costs continue to rise. Just down the
road in Palo Alto the average home cost is $985,000. Health care
costs and other insurance costs are skyrocketing as is the commodity
index. How much longer can the government ignore what is
happening?
Low interest rates have not created new jobs
here, but India and other foreign countries are having a boon. We
are shipping our jobs overseas where the service and manufacturing costs
are far less. I have to admit, so is the quality of service provided
by the overseas support.
Just some thoughts.
Ira.\ This will continue to happen because
it has little effect on the "Haves." Their petrol bill going from $50 a tank
to $70 a tank on their SUV is barely worth discussing re: the household
finances. They work for companies that pay their health insurance, or at
least the bulk of it, and the large house they own has doubled in value the
past 5 years. Life is good! However, for the poor "have nots",
they will continue to suffer regarding the above. Their meager earnings
continue to get eaten away by the massive inflationary spiral going
on. There is no one truly representing them in the media because they
are mostly affiliated with one party. If rolls were reversed, and a
democratic president was in office with the same things going on, you know
darn well the Republicans would be holding congressional hearings, having
investigations left and right regarding everything that is going on in the
energy markets, Bush and Cheney's connections to Haliburton and the massive
energy manipulation play that is going on etc. I'm not trying
to be political here, but thats the reality. There is absolutely no
direction, no vision, no goal, no leadership within the democratic party. No
one is raising any stink about what is going on, you hear nothing about it
in the media and it literally borders on the criminal. I am
not politically affiliated one way or the other and I love low taxes. The
above is simply my perceptions.
----- Original Message -----
From: EarlA
To: <A
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Friday, March 05, 2004 7:42 AM
Subject: Re: [RT] sp500/nasdaq top
Fascinating market action ... SPX has rallied to 1162.99 (within my
target range) while the price of the June 1150 puts I hold (and had orders
for more) has also rallied. This suggests that the market is putting in a
blow-off. Had to short emini since it looks like they won't fill my put
order.
I assume that this rally is all about the perceived
notion that the Fed won't raise rates so the market can party longer. Not
a thought to the fact that continued employment problems will lead to
reduced consumption and other (economic and political) fall-out from
reduced consumer confidence. Foreign currencies are rallying hard which
means even higher energy prices are in the cards.
Earl
----- Original Message -----
From: EarlA
To: <A
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Friday, March 05, 2004 6:11 AM
Subject: Re: [RT] sp500/nasdaq top
SPX is very close to long standing target range of 1060-1073 which
includes: 50% retracement to ATH, 200% expansion of Oct02-Mar03 swing, and
Dec01-Mar02 triple top.
I closed out long emini position just ahead of
Thursday's close leaving in place a SPX put established on Wednesday. I
also have orders working to add to put position on any rally from monthly
Employment Lie. During the past couple of weeks I've closed out all
trading positions in stocks and now hold significant cash position. I
still like energy stocks and hold core positions to which I will add
during any correction in equities.
There should be good support in the 1015+- area which
includes the 38% retracement to the Mar03 low and the Jun-Jul03 highs. If
this area holds, then another run to higher highs (1250+-) could be in the
cards. On a fundamental basis, the market is richly priced and risks are
strongly to the downside should the public lose its taste for
speculation.
Earl
----- Original Message -----
From: profitok
To: <A
href="">astrofin@xxxxxxxxxxxxxxx ; <A
href="">realtraders@xxxxxxxxxxxxxxx
Cc: Yacov Twena ; <A
href="">vincent ; <A
href="">U. Stuart-Auslander@xxxx
Net (E-mail) ; Slawek (E-mail) ;
Ronald McEwan ; <A
href="">Ron Miller (E-mail) ; <A
href="">panda2222@xxxxxxxxxxxxx ; <A
href="">ntt-list@xxxxxxxxxxxxxxx ; <A
href="">Ned Markson (E-mail) ; <A
href="">Mike Burk ; <A
href="">Kate (E-mail) ; <A
href="">Jseaton357@xxxxxxx ; <A
href="">Gocycles@xxxxxxx ; <A
href="">Elizabeth (E-mail) ; <A
href="">doroty.h ; <A
href="">Dom Perrino ; <A
href="">Dan C (E-mail) ; <A
href="">Cyclesman (E-mail)
Sent: Thursday, March 04, 2004 9:43 PM
Subject: [RT] sp500/nasdaq top
Most likely 3/5/04 should be a top
for a while
get out of longs and if you have long
term gains consider writing calls
most likely next is 1050 on
sp
if I am wrong, the max upside is only 10-15 sp
pointsYahoo! Groups
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