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1/08/2003 01:38:00 PM | Jared Alessandroni Indicator Michelle, the reason the day to day matters is that while the economy is not determined by the trading of a given day, people very much are. While anyone with a decent investment strategy knows that they're looking long-term, any senior citizen or major group who is invested in and dependent on their stocks for income (note lesson below on dividends, frickin' non-econ people trying to talk politics) have a lot to lose day to day with the market. In a more tangible sense, the people who are buying, selling, or trading today care a great deal. Unfortunately, it also provides false-feedback for the 95% of American's who do really believe it's an indicator. And, you're half-right on the taxes stuff. As a rich MA liberal, I can tell you Jane Swift did a lot more than raise taxes. She's not a very bright person and she had dull advisors, but she lost the election because the media, on its conservative swing, crucified her for having a child while in office, questioned every decision she made, and jumped on her flaws. She's decent but not great, but her PR lost her election, not taxes. In the end, with taxes, what Brad might consider is that when you lower Federal taxes, you reduce Federal programs. States lose funding, but only on Federal things. So, it's much harder, especially in a recession, to convince anyone to raise state taxes to compensate for things like the National Parks, Head Start, etc. This is one of the worst things to happen to our country since Regan slashed more social services than any recent president. You ever been to Templeton? Ask their director why the place didn't get its scheduled updgrades or even maintenance for several years until the fortunately wealthy neighbors in VT started funding it themselves. The fact that poor people don't vote is not nearly as sad as the fact that even some of them would vote for Bush. perma link |
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