Kemp: Market's problem isn't "infectious greed," it's high taxes and overregulation

townhall.com ^ | July 23, 02 | jack kemp

[meenie]

Somewhere there is a disconnect. Being able to deduct a loss when you have a loss. What income do you deduct from? Oh, I see, you can offset the loss fron other income. Then you have a loss from that income. This is similar to the problems that Enron has. Losses and gains should be totaled from the same income string.

Is Uncle making devious and fraudulent accountants of us in order to comply with the IRS? Put yourself in the chair of some company exec that is trying to save as much tax as possible and still comply with accounting procedures and you can see the problems that arise.

[Catie]

Heck, Meenie, my lovey's company is preparing to restate earnings by -$25M on the 8/14 deadline. (We wait with baited breath for the ultimate impact.) The earnings overstatements had nothing to do with over-regulation, but with greed.

[what's up]

In the 90's there was huge expansion going on.

When expansion diminishes because of lawsuits (like asbestos and Haliburton) or government regulation (such as energy price caps in California - in that case it affects not only Enron but the banks, etc.), yet tax rates remain high, there is trouble.

[what's up]

What company do you work for?

[TruthNtegrity]

I'd like to see Jack Kemp take over Greenspan's job and Larry Kudlow replace O'Neill. Then we'd have a progrowth, pro-supply side effect on the economy, and it would turn around in a heartbeat. Well, almost.

[Catie]

I would tell you, but then you know, I would have to . . .
Oh, nevermind.