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To: gridlock
Why would anybody invest in a profit making enterprise when he can get 7% tax-free from California? That's money right out of the productive market.

Doesn't the article say that the money will go to fund public works? That means that numerous profit-making construction companies, etc., will put employees to work putting up buildings, roads, sewers, etc. It would be preferable for this kind of money to be invested directly in such companies, but then again companies do need infrastructure.

17 posted on 01/16/2003 12:06:24 PM PST by RonF
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To: RonF

Digging a ditch does not quite do the same thing for an economy like a more powerful microchip or a faster fiber optic.
18 posted on 01/16/2003 12:38:04 PM PST by JohnGalt
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