5.24.2003

she thinks she missed the train to mars

three things made me happy yesterday:
it was the first anniversary of the blog. i'm so vain.
i made the best grilled cheese of my entire life. canadian cheddar on whole wheat
a guy at work gave me the animatrix on divx.

three things made me upset yesterday:
multiple people stopped--STOPPED--on the onramp to 290. don't stop on the onramp, please.
i had to go to the evil empire yesterday--fleet bank.
i saw some details on the tax cut package that was passed.

i will expand upon my view of the tax cut.
warren buffet says it's a bad idea, and that really should be good enough for anyone. i don't know how sound this theory is, but my take on it is that if you cut taxes to the middle and lower classes, then you increase the amount of money being put back into the economy. lower income people are more likely to increase spending instead of increasing savings if given a rebate or an extra $50 in each paycheck. with consumer confidence going back up by the increased spending, stocks will go up and the rich will get richer. instead of trickle down, it's "shooting hose into the sky." the rich will get wet, but so will the poorer--and a lot quicker than the "voodoo" economics of reagan.

here are some numbers i crunched from the cnn article. just by using the percentage cuts that each bracket is getting anyway and ordering them so the lowest income gets the biggest percentage, i put more money in the pockets of the lower brackets--and saved the government money. almost a third on the single tax breaks and a smaller--but still substantial--5% on the 2 dependents tax break.

to me it makes sense to give the money to those that are going to pump it into the economy through being consumers of goods and services instead of those that are investors. a thousand smackaroos don't really matter to someone with a cool half mil in the market. but to a school teacher, that's next month's mortgage.

buffet says no. i say no. our constitutionally-questionable elected president will give big thumbs up.

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