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Originally posted by hytem
If it weren't for "made in China" and cheap oil (relatively), we would be dealing with a post-Vietnam situation with that big deficit. That means inflation. But it probably won't happen unless there is a sustained jump in oil prices. Oil is the big Kahuna--that's where inflation will come from. Interest rates don't mean a thing--except raising them will kill the economy and the stock market--as Greenspan did the summer before the 2000 elections (wonder why).
Those tax cuts meant nothing to the middle class--because they were more than offset by 1% CDs, which killed interest income. If you make a few mil a year or more, like most baseball players, then you love Bush.
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The middle class does not live off their investments, get real. The tax cuts helped me a ton and I am NOT rich. In fact I paid virtually zero fed tax this year. The tax cuts helped us middle income guys a ton. The fact that others were also helped does not upset me. In fact I have a fair amount of guilt over my low rate.