November 10, 200619 yr I don't expect a crash. I expect a slow decline as the impact of applied liberal economic theories set in. Increased taxes and increased spending, along with weakened national security will take its toll on the market eventually. People seem to forget that the 9/11 attacks were planned during a Democratic administration before there was an Iraq War and before we toppled the Afghani government. The conditions abroad, even with a capitulation in Iraq, will not be much different than they were in the 90's. There is no logical reason to assume that losing the Iraq War will increase the chances of another attack. That will wear on Wall Street over the next two years.
November 10, 200619 yr Author A family of four with two children under 17. Does not itemize. Makes $60,000 in wages per year. No other income, deductions or credits. Tax in 2000 - $5221 Tax in 2006 - $2724 Thank you. I thought I had more money in my pocket now than I did in 2000 and thought you could verify that for me. And $2500 more is a pretty significant amount.
November 10, 200619 yr That sounds more like sour grapes to me. I wouldn't worry too much about it. Got you back. I was being sarcastic...:banana: Seriously though, I'm not real bullish on the market going forward, for several reasons.
November 10, 200619 yr I don't expect a crash. I expect a slow decline as the impact of applied liberal economic theories set in. Increased taxes and increased spending, along with weakened national security will take its toll on the market eventually. People seem to forget that the 9/11 attacks were planned during a Democratic administration before there was an Iraq War and before we toppled the Afghani government. The conditions abroad, even with a capitulation in Iraq, will not be much different than they were in the 90's. There is no logical reason to assume that losing the Iraq War will increase the chances of another attack. That will wear on Wall Street over the next two years. I agree with you. Add to that a DOW that is at or near an all-time high, and I'm not an advocate of having a good portion of my portfolio in U.S. stocks right now.
November 10, 200619 yr I agree with you. Add to that a DOW that is at or near an all-time high, and I'm not an advocate of having a good portion of my portfolio in U.S. stocks right now.I meant to say: There is no logical reason to assume that losing the Iraq War will not increase the chances of another attack. There is very little upside to claiming defeat in any war, regardless of what you call it.
November 10, 200619 yr Got you back. I was being sarcastic...:banana: Seriously though, I'm not real bullish on the market going forward, for several reasons. Went right over my head.
November 10, 200619 yr Went right over my head. I can't read you at all. That was more sarcasm, right?
November 10, 200619 yr Author I find it interesting that this tax rebate was for the rich and yet, the hypothetical person above surely benefitted. What was the last Democratic President that a tax cut fell under their watch? Democratic Congress?
November 10, 200619 yr I meant to say: There is no logical reason to assume that losing the Iraq War will not increase the chances of another attack. There is very little upside to claiming defeat in any war, regardless of what you call it. That's how I read it the first time, lol...We are definitely at more risk if we are perceived as suffering defeat in Iraq, regardless of whether some people want to believe it or not.
November 10, 200619 yr I find it interesting that this tax rebate was for the rich and yet, the hypothetical person above surely benefitted. What was the last Democratic President that a tax cut fell under their watch? Democratic Congress? Democratic Congress CUTTING taxes? Democrats never met a tax HIKE they didn't like.
November 10, 200619 yr Author Democratic Congress CUTTING taxes? Democrats never met a tax HIKE they didn't like. I hear over and over that the Democrats view is to put the money in the hands of the middle class to invest in the economy. And I was wondering if there had been a Democratic Congress and President who actually gave a tax cut. I honestly don't know the answer and am not trying to set up either side.
November 10, 200619 yr I find it interesting that this tax rebate was for the rich and yet, the hypothetical person above surely benefitted. What was the last Democratic President that a tax cut fell under their watch? Democratic Congress? Offhand, I'd say JFK was the last Democrat President to make sweeping tax cuts.
November 10, 200619 yr I can't read you at all. That was more sarcasm, right? Nope. It really did go right over my head. I'm often slow on the uptake.
November 10, 200619 yr Author Offhand, I'd say JFK was the last Democrat President to make sweeping tax cuts. I was thinking that Clinton had something with a tax cut but that was with a Republican Congress. Wasn't sure that is why I asked.
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