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Author Topic:   Tax cuts for the rich...makes ya think
d1734

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posted October 17, 2000 10:29 PM

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at least it does me, anyway. coming from the middle class, at times you want to hate all the billionaires for having their money, seeking tax shelters, etc. etc. Bush is for an all around tax cut, and the bottom line is the rich pay more of the taxes AFTER his plan than they do now (62% now, 64% after). all in all, i see nothing wrong with it. al gore does have a point with the pure amount of money going towards the cuts to the top 1%, and in a way i agree. at the same time its just not right to do it, its 1 step closer to becoming a Socialist state.

to sum it up, whatever you do don't vote for Al Gore. he's a vote whore, and will say and do anything to get the vote whether he plans to do it or not. i say vote Nader, but if your the type that picks the lesser of two evils, go Bush.


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timac

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posted October 17, 2000 10:32 PM

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elections really are not about who you want in office, but who you don't want in office.
who can you stand to be your president, who's bullshit do you want to put up with.


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The Dude

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posted October 17, 2000 10:40 PM

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Bullshit timac. That's cynicism of the highest order and it doesn't accomplish anything except continued bitching.

Vote Bush.


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Austin316

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posted October 17, 2000 10:44 PM

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I sure as hell would not trust Gore with my back, he seems like a total snake. "I have kept every word I have ever made, and will continue to do so." at least Bush admitted that politicians in Waqshington are untrustworthy


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timac

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posted October 17, 2000 11:00 PM

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exact
definition:

cyn�i�cal [s�nnik'l ] or cyn�ic [s�nnik ] adjective
---------------------------------------------

1. distrustful of human nature: doubting or contemptuous of human nature or of the motives, goodness, or sincerity of others Many people have developed a cynical distrust of politicians.

exactly my point Dude, I do not trust politicians. I do not trust Gore. I do question the motives of these candidates. I do not trust politicians, especially after Billy. Do you trust them? The way you speak it seems like you do. Well I don't, and I don't know anyone who does.

by the way I am voting Bush.
and Dude, thanks for reiterating my point.

[This message has been edited by timac (edited October 17, 2000).]


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The Dude

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posted October 17, 2000 11:32 PM

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Your point was that elections are about voting against someone and not for someone. Again, taking a line from SailorGirl, I call bullshit. Not all politicians are untrustworthy snakes out only for their own good. Politics is not all bad. Partisan politics, for instance, is good. Who wants everyone up on the hill to agree on everything? How it's done can be trying at times, especially for a conservative like myself who is absolutely de-fucking-lighted (NOT) by the ignorance of the American people and the obvious bias in the media.

As I begin to ramble, I'll come back to my original point: You can't look upon all politicians and politics with disdain. Otherwise, you'll burn out on the frustration and not give a damn. And guess when they're the most powerful...when you don't care.

Vote Bush.

------------------
The difference between involved and committed can best be explained using a bacon and egg breakfast as an example: The chicken is involved but the pig is committed.


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MattTheSkywalker

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posted October 17, 2000 11:47 PM

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Let me stop the bullshit right now:

There is no justice in asking a percentage of society to suffer a greater tax burden than another group.

If my income is 500K/yr, why should I pay a higher PERCENTAGE than someone whose income is 50K? Why punish me for being successful??

The "rich" are the ones that finance just about all of the governemnt programs - with their tax dollars - so why not give them a break? They are getting fucked.

The only just tax is a flat tax. Period.

Matt


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Frackal

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posted October 17, 2000 11:53 PM

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I certainly agree with you there Matt. Flat tax. Maybe w/ tax breaks for only familys who make under 20k/ year though or something.


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MattTheSkywalker

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posted October 17, 2000 11:55 PM

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Yeah Frack I'm with you there. If you are under a certain amount (I was thinking 30k for 2 kids, and an additional 7500 per kid) you pay nothing.

otherwise it's flat tax only.

Matt


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d1734

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posted October 18, 2000 12:49 AM

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in principle it sounds correct matt, but at the same time it seems that the top 1% should be thankful for the fact they are in the top 1% instead of buying a house in monaco for a tax shelter (exaggeration). but honestly, due to circumstances out of ones control, i can promise you there are middle class citizens busting their ass and every bit as bright as multi-millionaires. it almost seems wrong not to tilt the scales, if only slightly.

[This message has been edited by d1734 (edited October 18, 2000).]


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Dirk Diggler

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posted October 18, 2000 07:49 AM

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matt nailed it again

i sure wish the hell bush could articulate his views like that


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runner

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posted October 18, 2000 08:48 AM

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sure, a flat tax is fairer and obviously much easier to calculate.

one problem: people vote selfishly. if tax revenues are to remain at the same level and a flat tax significantly reduces the percentage paid by that wealthiest 5% then the money will hafta' be recouped elsewhere...joe six-pack will end up paying more. should this happen? i think so. will it happen? doubt it...the democrats will appeal to the masses and in a democracy their voices will carry the day.


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The Dude

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posted October 18, 2000 07:46 PM

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Actually a flat tax wouldn't reduce the wealthiest 5%'s burden. The flat tax plans that have been proposed all eliminate tax loopholes that can drastically reduce the amount the wealthiest have to pay (these loopholes can drop the tax burden on the wealthiest to well below the 28% usually associated with lower and moderate middle income households).
And I wouldn't disparage too many of the wealthy. For one, we all want to be one and once we get "ours," we don't want the government raiding our coffers. Secondly, the vast majority of these people not only busted their ass for their income, but took the necessary risks required to gain such large rewards.

Vote Bush.

------------------
The difference between involved and committed can best be explained using a bacon and egg breakfast as an example: The chicken is involved but the pig is committed.


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Weapon X

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posted October 18, 2000 07:51 PM

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Damn skippy, Dude.
Why is it so fashionable to diss "the rich"?

------------------


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MattTheSkywalker

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posted October 18, 2000 08:50 PM

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I am not endorsing any CURRENT flat tax proposal. I am creating my own:

Calculate your annual income: Multiply by .10 (10%). This is your tax. No loopholes. No deductions. No exceptions, except those who make under 30K with 2 kids, or 30K + $7,500 per kid.

Your tax form could be one sheet of paper.

Ten percent. The idiotic programs would have to go away. The government would learn how to do more with less. The hands that have been continually reaching out, would be chopped off.

Ten percent.

Matt


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The Dude

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posted October 18, 2000 09:21 PM

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I like. I also liked Forbes plan which, correct me if I'm wrong was 15% with everyone (yep, everyone) earning less than $35,000 getting a pass.

------------------
The difference between involved and committed can best be explained using a bacon and egg breakfast as an example: The chicken is involved but the pig is committed.


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d1734

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posted October 19, 2000 12:37 AM

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you people who are so in favor of the rich with comments like "they took risks, they busted their ass" etc. well, you are forgetting one VERY important factor that plays a part, its called LUCK. at times there is a very fine line between making it big and going broke.

and does anyone think it is a bit crazy that 1 person can be worth as much money as 1,500,000 ordinary citizens? (assumptions are 75,000,000,000 to 500,000)

yea...just think. bill gates + larry ellison + paul allen and a handful of other notable billionaires are worth more than the entire low and middle class COMBINED. is that really just?????

[This message has been edited by d1734 (edited October 19, 2000).]


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d1734

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posted October 19, 2000 02:19 AM

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given this a bump to keep it high while i go to sleep.


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Sharps

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posted October 19, 2000 03:41 AM

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MY opinion on tax cuts for the rich is , The harder you work the more you deserve to save. But I can respect the other side of the coin which is that the rich can afford to lose it.

I just feel that they (we) work hard for their (our) money and and we deserve a little more of a break.

Not to diminish the hard work of middle class citizens because lord knows they work hard also.


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The Dude

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posted October 19, 2000 07:32 AM

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"It's funny but the more I practice, the luckier I get."

Gary Player, golfer

------------------
The difference between involved and committed can best be explained using a bacon and egg breakfast as an example: The chicken is involved but the pig is committed.


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Cleaner

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posted October 19, 2000 09:49 AM

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Shit man I'm far from rich and get hit for 44%. That shit hurts and months were I just get by I wanta kick someone in the head.
Almost half of what I make goes to support the goverment.
Don't get me wrong to live in a free country you have to pay for it. Its just why am I paying so much. I certainly don't have that much laying around.
I pay the regular 33% that most poeple do then I get hit with another 14% for being self employeed. What the hell is that. I work and make money for myself so I pay more? SO after my accountant gets done its around 44%. I'll never get the system - it just out of control. It should be straight forward and understandable.


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Mr. T

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posted October 19, 2000 01:15 PM

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First, choosing the lesser of two evils is still choosing evil. Second, I doubt you would be able to pass a flat tax without campaign finiance reform since lobbyists for accounts who contribute millions to campaigns would not stand for it. (They thrive on loopholes, flat taxes are to simple) Isnt it smarter to fix the system before you start to fix the problems? (And dont tell me about that McCain bill, that is not true reform)


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TxCollegeguy

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posted October 19, 2000 01:18 PM

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d1734 I don't think it's crazy that those people are worth so much...Who cares if it's luck, birth, or earned that much money, the bottom line is they have it they should keep some of it...why should they pay so much more then everyone else...I like the flat tax but the Politicians wont go for it cause it will make them spend money smarter...

What I think is unjust is the fact that alot of the social spending is Bull shit....Your not going to convince me that someone who is on welfare who is physcially and mentally able to work deserves to stay on wellfare cause "Oh I can't get no education to get a better paying job..." Thats crap reguardless of how poor someone is they can get it done if they WANT TO. As an example of wasted public money I have worked a couple of times in a highway crew here in Texas and it was a HUGE waste of public money...Federal Tax dollars were paying my $10hr check, and it took us damn long to get the simplest construction done because the engineers and their bosses where to busy going out to lunch or buying equipment that wasn't neccessary...there is a need for change in this country and we are going to change it or it's going to change us...

I personally would like to see the welfare programs change back to the way they were in the FDR days toward the end of the depression...if your going to get welfare money your going to get it by contributing to society some how if your able to...


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Jae

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posted October 19, 2000 01:27 PM

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Matt does it again. I can relate to flat tax. Why tax the hell out of me if I bust my ass to be successful? Am I to be punished for having motivations and visions?

My salary is at 87K per year, but my tax amounts are nowhere near the proportions of my girlfriends who owns silk, furniture and import companies. She was a multi millionaire by age 32 and never saw hardly any of her money. It wasn't until she closed her shops and set up "hidden, relocated, diverted ownership, etc.. whatever you want to call it" to foreign soil that she started rolling the $$$ that was left over from the tax cuts. When you get to that large scale $$$ making, you become an expert at tax write offs and dodging. She has a penthouse in every city that one of her showrooms are located in for tax deferment purposes. She can legally claim that she is unable to stay in a hotel for her business. Everything you buy from her is shipped from overseas for the added tax break. You may think that paying import taxes raise the level, but not so. She will take material out of her store in NYC and ship it to Paris and then have it shipped back to NYC where the customer picks up the shipping and handling fees, but she still gets the write off.

You would be surprised at just how crafty a smart accountant can help you save. Being nice with Uncle Sam gets you nowhere.

Jae


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Jae

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posted October 19, 2000 01:28 PM

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P.S. And I am not voting Bush. What a set back to the economy that would be.


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Weapon X

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posted October 19, 2000 01:31 PM

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Those who make money should get to keep their money.
It is not the government's place to decide to reallocate individual earnings. This power is nowhere granbted by the nation's founding documents. FDR was the worst fucking thing to happen to America. The New Deal ushered in an era of entitlements and government theft.
Why penalize Bill Gates? He already donates more to charities than most people earn in a year. And they say he is too rich? Bullshit.
I make less than half of what Jae makes, and I don't resent him for it. He owes me nothing.


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MP5

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posted October 19, 2000 02:54 PM

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Why should anyone in this country have to pay more to use the same public services such as roads as the next guy. I heard a great analogy:
A college aged girl was going off on her father for being a republican and asked him why. Concerning taxes he told her a little story. "you work hard for your grades correct? She said yes. "you often earn mostly A's and occasionally a few B's, correct? She said yes. "well certainly you know people in college that earn C's, right? Yes she said. "here is what I propose, you offer to the dean to give those students with C's, a few of your A's, that way you are both equal in GPA and it should help them after college in getting a job" She replied "but I worked for those grades while they were out partying I was studying" the father replied "exactly", then the girl finally saw the light.


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MattTheSkywalker

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posted October 19, 2000 04:01 PM

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D1734,

I want to try to give each of your points the analysis it deserves.

Bill Gates/Paul Allen (Microsoft) and Larry Ellison (Oracle). Calling them "lucky" is misguided. These men all are successful because they are visionaries. None of them are college grads. While their peers were drinking beers and partying, or getting wrapped up in getting the best grades, they saw something that could change the world, and then they made it reality. Now they are reaping the rewards for their vision. Hardly luck. A very poor example there.

However, there are some who are just lucky. Some people are born into considerable wealth. Somewhere out there, there are Vanderbilt and Rockefeller descendants who never did a damn thing for their money, but those are aberrations and not really important to the discussion.

These "lucky" people have their money so secured in holdings that it will be in the family forever. No tax plan will change that. If the taxes become much higher, then tax avoidance becomes the principal objective of the wealthy. They will then start to invest in other countries, removing their money from our system entirely. This is really bad.

Graduated income tax hurts people like me. I come from a very average family, and paid my own way through school. Through considerable effort and sacrifice, I was able to get a job where I make a nice income, with considerable growth potential in this field. If I plan wisely, I may be able to open a few of my own businesses by the time I am 30. (25 now). With some careful planning, I may be able to grow these businesses into considerable wealth.

But along they way, our government wants to make this difficult. Paying over one third of my income is tyrannical. I work into May of each year for others.

And I am not alone. I am part of a growing class of people that is acquiring money and frustration at the same time.

Matt


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d1734

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posted October 19, 2000 04:29 PM

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maybe bill gates was a visionary, but he also did anything and everything to cut the throats of his competitors and he will eventually pay the price for his actions with (hopefully) the breakup of Microsoft. the high tech industry is full of backstabbing and technology stealing to the point its hard to even know who truly deserves the credit. an example is the RAM makers. i am only a semi-tech nerd so i wouldn't be able to go as in depth as some of the people that really follow that type of thing. in general the leaders try to destroy competition and hurt the customer due to their own greed.

on the other side of the coin i totally disagree with welfare and any form of money for people that do absolutely nothing. but if the person is giving it all they got, they deserve to be helped out a bit if need be.


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JustinM

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posted October 19, 2000 05:13 PM

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ALL GORE IS A VOTE WHORE---HAHAH

------------------
Call me Tyrannosaurus Pecs


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Weapon X

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posted October 19, 2000 05:15 PM

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God Bless Ayn Rand.

------------------


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JustinM

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posted October 19, 2000 05:22 PM

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D1734...HE EARNED HIS MONEY FAIR..I DONT BELIVE IN BREAKING UP COMPANIES..IF THEY CAN MAKE IT THEN GOOD FOR THEM..THESE DAYS IT IS VERY HARD TO CREATE A MONOPOLY...IF THEY EARN IT, IT SHOULD BE THERES, I AGREE WITH MATT ABOUT HIS IDEA BUT I THINK .1 IS NOT ENOUGH FOR THE GOVERNMENT TO RUN ON..IF THEY ARE GOING FROM A .4 TO A .1 THEY ARE GONNA RUN OUTA MONEY..MAKE IT .2 AND IM HAPPY

PEACE

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Call me Tyrannosaurus Pecs


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The Dude

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posted October 19, 2000 07:50 PM

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Bush would be a set back for the economy? C'mon! Do you realize when this tremendous economic expansion began? In the middle of Reagan's first term. The recession in Bush's term was extraordinarly mild (barely a negative blip) and brief. Tax reform and deregulation opened the door for what we have today. Clinton has been unable to screw things up thanks to a Republican Congress blocking his every move (or having their own ideas taken by Clinton and presented as his own). Know your history folks or ye shall be doomed to repeat the more unsavory parts.

------------------
The difference between involved and committed can best be explained using a bacon and egg breakfast as an example: The chicken is involved but the pig is committed.


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MattTheSkywalker

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posted October 19, 2000 09:43 PM

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D1734,

You can't have it both ways. Gates did everything he could to destroy his competition, but that's why they call it competition.

You can't have competition and at the same let everyone compete. In competiton there is always a winner and a loser. You can't legislate against this, and then expect competition to be as fierce.

Matt


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Mr. T

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posted October 19, 2000 09:46 PM

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Justin: We cant have monopolies, prices for products would be astronomical!


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MattTheSkywalker

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posted October 19, 2000 10:56 PM

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Justin,

They won't run out of money with 10%. They'll have to learn to use it more responsibly.

Did you know the Constitution only spoecifies three federal crimes: piracy, counterfeiting, and treason. SAy goodbye to the FBI, the DEA (drugs would be a state-to-state issue), the ATF, and more - I don't want to get into my political philosophy too much here, but as you can see, much of our modern day bloated mess of a federal government would be eliminated.

If you;re willing to pay 1/5 of your money to the fed, do it. But I'll be damned if I call that just.

Matt


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Frackal

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posted October 19, 2000 11:31 PM

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I agree with you 100% this time Matt.


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