Expansionary Institute

Gorecrash 2000 costs investors over $1 trillion

By MARTIN HUTCHINSON, UPI Business and Economics Editor

WASHINGTON, Dec 1 (UPI) -- According to the Wilshire 5000 Index, the
decline in value of the U.S. listed stocks in November was $1.316 trillion.

That's trillion with a T.

We're talking $4,768 for every man, woman and child in the United States.

Of course, essentially all of this loss happened after a certain non-event
on November 7.

Think what you could do with $4,768.

Think again.

And then reflect further.

The capital gains tax payable on $1.316 trillion, at 20 percent, is $263.2
billion. You may have seen something like that number before recently. It's
somewhat more than the current U.S. Federal budget surplus.

So bang goes the tax cut.

Or the prescription drug coverage.

So it really doesn't matter which of those guys wins, does it?
--
Copyright 2000 by United Press International.
All rights reserved.

[ This message was edited on Sat Dec 2 by the author ]

Sat Dec 2