At 11:32 PM 2/6/2003 -0600 Dan Minette wrote:
>Fair enough. That cash out happened in 98 and 99.
I must ask again. What model are you using to predict a "cash out" two
years after the capital gains tax cut takes effect?
>> This model, however provides no scenario in which capital gains revenues
>> spike two years after the cuts.
>
>I found better numbers later. And yes, I accidentally included '92, which
>I shouldn't have. But, you claimed that the difference in capital gains
>was the whole difference in the 500 billion dollar swing between 2000 and
>2003.
Actually, my initial claim was that "Clinton did not produce a surplus
because of his expert balance of spending and taxation, rather he had a lot
of help from a stock market bubble." Afterwards, I suggested that I would
bet (but did not affirm) that Bush would not have a deficit had he had the
same capital gains revenues as Clinton. Obviously, I was wrong in that
assessment, and wartime spending now plays a larger role than decreased
capital gains revenues and an economic recession combined in producing the
current deficit.
By the way, I don't have the numbers handy, but I read today that Clinton &
C0., with his, quote, "expert balance of spending", incrased discretionary
spending at 9% a year during the 90's. Bush, on the other hand, is
keeping increases in discrtionary much less than that (the 2003 figure is
still being negotiated, but it looks to be around 4%.)
>nd he wants a
>tax cut for his rich friends?
I thought you wanted to be taken seriously in this discussion? Obviously
not.
Given that even _The Economist_ (which opposed the first-round of Bush tax
cuts), as well as several of my liberal friends, support eliminating the
double-taxation of dividends - its crass partisanship to call this a "tax
cut for Bush's rich friends."
Perhaps we should talk about pardons for ones' friends instead if you'd
prefer partisanship?
JDG
_______________________________________________________
John D. Giorgis - [EMAIL PROTECTED]
"The liberty we prize is not America's gift to the world,
it is God's gift to humanity." - George W. Bush 1/29/03
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