Maybe not so stupid. It's called "laying pipe" -- preparing the American public for the deep cuts in social programs which are going to follow the election to deal with the deficit. I expect Bush and the Republicans to devote more than a little time talking about diverting social security payroll taxes to individual retirement savings accounts as the "sweetener", and about "reforming" the already very limited medicare program to deal with a "looming funding crisis" resulting from the boomers reaching retirement age. Greenspan's authority can be enlisted in the exercise. Greenspan recognizes also that taxes are going to need to be hiked -- something neither party will talk about during the election -- and he wants to ensure that the dividend tax cuts and other advantages for wealthy investors aren't targeted. I'm not sure how much the Democrats are going to want fight the election on tax policy, anyway, given the way the Republicans frame that debate against them, or attack congressional spending cuts they know they'll largely support if they should win the presidency. I suspect they'll focus on the jobs issue instead, and only tangentially attack the class bias of the tax system, but that's pure speculation.
Marv Gandall ----- Original Message ----- From: "joanna bujes" <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> Sent: Friday, February 27, 2004 1:24 AM Subject: Re: [PEN-L] declaration of war? > As opposed to the old policy of no class war? > > I don't know. Actually, I think it was just a stupid move. > I mean, why say anything like this before the election? > > Joanna > > Eugene Coyle wrote: > > > Wasn't Greenspan's little talk about cutting taxes for the rich and > > cutting Social Security pretty close to an open declaration of class war? > > > > > > Gene Coyle > > > >
