Joe, oeo is absolutely right, I am recopying my post and eliminating the offensive part here:
"Where does that Broder write? I hear more voices (Cashin was the first I heard on various financial
networks) suggesting it would be better to eliminate double taxation by allowing corporations the
deduction rather than the recipients. What the administration does not understand, is that their
scheme is going to cause a general rise in interest rates, simply because dividends will be given a
preferred tax status. Not only will the Munis have to pay higher rates, corporations will have to issue
new debt with higher coupons. Once that happens, treasuries will have to narrow the returns gap
created and all interest rates will be ratcheted up, including mortgages. A rise of interest rates on
mortgages will kill the last bastion of strength in the consumer sector. I think that there are enough
"smart republicans" out there (I hope I am not the "only smart" republican seeing this) that can see the
implications of the Bush plans on the economy, and particularly the lousy timing. If they implement it for
this year (or even if it appears they will be successful this year), we may plunge back into a recession
later this year due to the housing sector weakening. That will assure a Republican defeat in 2004, all
the Dems will have to do is repeat the tactics of 1992 (It is the economy, stupid). Maybe the "Smart Dems" see that, and maybe, that is why so many candidates are eager to fight Bush in 2004."
Now the two "sides" are on equal footing (g). By the way, "Some of my best friends" (vbg) are Democrats, including my wife (the best friend of all).
Zeev
AI
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