On Fairness

[Micheal]

'Gramm' and 'odd comment' may be redundant.  Crime is down, the US is the
dominant power on the planet, the repubs have the presidency and are the
majority in the House, the markets seem to be leveling off and the
'recession' may have bottomed out .  It is hard for me understand what he
(and his repub view) would see as unstable. Then again, perhaps the
'instability' Gramm mentions is just a concern raised by his constituents
that we need to create more grist for the financial market mill.

Perhaps a meaningful tax cut to the hundreds of millions in the middle to
lower class would spur consumption but if you have millions or billions, how
many new toasters, ovens, and other mass produced items do you buy?  Most
likely you buy some, but that amount spent pales in comparison to the amount
you funnel through the financial and capital markets.

I find it odd that few in Congress or the Admin address what may be a real
instability, the rise in consumer credit.  But, then again, that really just
redistributes wealth, if in a backward sense.  Maybe that's why I never see
anyone in D.C. discussing it.

Micheal

-----Original Message-----
Odd comment by Senator Gramm in the second paragraph . . .

Jacob

Like many congressional Republicans, Gramm said the increasing burden of
taxation on the rich is tearing at the social fabric of the nation. "We are
approaching the point when society is becoming unstable," he said.