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Just because there's a dearth of posts regarding
trading doesn't mean we're turning this into a
political forum, does it?
--- BobsKC <bobskc@xxxxxxxxxxxx> wrote:
---------------------------------
Great story. Heard it before but had forgotten about
it. Bottom line is that the top few percent of tax
payers pay most of theincome taxes but democrats want
it all. Bush should win thisupcoming election by a
wide margin but in four years, God help us allbecause
I don't see much of anything stopping Hillary
considering thehuge percentage of women who claim they
will vote for her and it's myopinion she pushed for
Kerry so Bush would win and she can run against
anon-sitting republican in 2008. The Clintons still
maintain a deathgrip on the D.N.C.
Thanks,
Bob
At 08:16 AM 3/6/2004 -0800, you wrote:
Speaking of low taxes, I don'tbelieve that the author
noted at the bottom wrote this, but it is
aninteresting analogy.
Sometimes Politicians can exclaim; "It's just a tax
cut for therich!", and it is just accepted to be fact.
But what does thatreally mean? Just
in case you are not completely clear on this issue, we
hope the followingwill help.
Tax Cuts - A Simple Lesson In Economics
This is how the cookie crumbles. Please read it
carefully.
Let's put tax cuts in terms everyone can understand.
Suppose that everyday, ten men go out for dinner.
The bill for all ten comes to $100. If they paid their
bill the way wepay 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 happywith the arrangement, until one day,
the owner threw them acurve.
"Since you are all such good customers," he said,
"I'mgoing to reduce the cost of your daily meal by
$20."
So, now dinner for the ten only cost $80. The group
still wanted to paytheir 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, thepaying 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 manand the sixth man would each end up
being 'PAID' to eat theirmeal.
So, the restaurant owner suggested that it would be
fair to reduce eachman's bill by roughly the same
amount, and he proceeded to work out theamounts 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 continuedto eat for free.
But once outside the restaurant, the men began to
compare theirsavings.
"I only got a dollar out of the $20," declared the
sixthman.
He pointed to the tenth man "but he got $10!"
"Yeah, that's right," exclaimed the fifth man. "I
onlysaved 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 allthe breaks!"
"Wait a minute," yelled the first four men in unison.
"We didn't get anything at all. The system exploits
thepoor!"
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 satdown and ate without him.
But when it came time to pay the bill, they discovered
somethingimportant.
They didn't have enough money between all of them for
even half of thebill!
And that, boys and girls, journalists and college
professors, is how ourtax system works.
The people who pay the highest taxes get the most
benefit from a taxreduction.
Tax them too much, attack them for being wealthy, and
they just may notshow up at the table anymore.
There are lots of good restaurants in Europe and the
Caribbean.
David R. Kamerschen, Ph.D.
Distinguished Professor of Economics
536 Brooks Hall
University of Georgia
----- Original Message -----
From: delta88343@xxxxxxx
To: 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, 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: 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: 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: astrofin@xxxxxxxxxxxxxxx ;
realtraders@xxxxxxxxxxxxxxx
Cc: Yacov Twena ; vincent ; U.
Stuart-Auslander@xxxx Net (E-mail) ; Slawek (E-mail) ;
Ronald McEwan ; Ron Miller (E-mail) ;
panda2222@xxxxxxxxxxxxx ; ntt-list@xxxxxxxxxxxxxxx ;
Ned Markson (E-mail) ; Mike Burk ; Kate (E-mail) ;
Jseaton357@xxxxxxx ; Gocycles@xxxxxxx ; Elizabeth
(E-mail) ; doroty.h ; Dom Perrino ; Dan C (E-mail) ;
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
points
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