--- "John D. Giorgis" <[EMAIL PROTECTED]> wrote: > Dan Minette wrote:
> >So, Bush unvails a plan to focus tax cuts on > dividends, thus preferentially > >cutting the taxes of those who already are the most > wealthy. The logical > >conclusion is that he thinks the trend of > concentration of wealth is a good > >thing. I don't. Does anyone else agree with Bush? > > The logical conclusion of this is that Bush agrees > with most ecnomists in > that the double-taxation of dividends is a bad idea. Although Greenspan "endorsed in principle" the dividend tax cut "if offset elsewhere in the budget," he disagreed with the need for a stimulus package right now - see below: http://www.washingtonpost.com/wp-dyn/articles/A61939-2003Feb12.html ...The White House acknowledged the rift with the Fed chief, but disputed interpretations that Greenspan had rejected Bush's tax cuts in congressional testimony this week in which he warned against a return to entrenched federal budget deficits and said it was too early to support a stimulus... ...Greenspan told Congress on Tuesday that uncertainty over the prospect of war with Iraq made it hard to gauge the underlying health of the economy and therefore it was too early to support a fiscal stimulus program... ...He [Ari Fleisher] said Greenspan's warning to congressional committees Tuesday and Wednesday that deficits should not be allowed to become entrenched did not refer directly to the tax cuts proposed by Bush. They could also be interpreted as calling for spending restraint, he said... ...Greenspan endorsed in principle a central element in Bush's plan, saying eliminating the dividend tax would be a long-term benefit, if offset elsewhere in the budget... ...In what has become a battle of dueling economists, the White House Wednesday released a letter from more than 200 academic, think-tank and corporate economists endorsing the stimulus plan. This came two days after a signed statement by 10 Nobel prize winners and some 450 other economists criticizing the proposal... Eeny Meeny Miny Moe Maru __________________________________________________ Do you Yahoo!? Yahoo! Tax Center - forms, calculators, tips, more http://taxes.yahoo.com/ _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
