<Dow up 346 points

Inflation is low. Interest rates are low.

We can bat statistics back and forth all day, since they've been all over the map for months, but where do you get the idea that a free market is immune from downturns?

I noticed that you haven't mentioned Bush getting the docks back on line, after bitching about his lack of action in earlier posts.

Although you wouldn't know it to hear the complaining from the media, the Republicans do have an eye on the economy.

The House is working up two tax bills to help investors:

The first bill would let investors deduct more of their net capital losses from their taxes. Taxpayers can deduct up to $3,000 now, which hasn't been changed since 1978. The GOP's bill raises the deductible to $8,250.



The second bill would raise the age at which Americans are required to begin taking funds from their 401(k)s and IRAs — from 70 to 75. "That will give seniors more flexibility and control over their retirement savings," Mr. Thomas said.

The bill would also accelerate the scheduled increases in contribution limits for 401(k)s and IRAs in the Bush tax cuts, making them effective next year instead of 2008, when they were originally to take effect. An additional contribution "catch-up" provision for older workers who got started late in their retirement savings plans would also take effect next year, rather than in 2006.

The House will probably review these bills by the end of this week to send a clear message that the GOP intends to help investors next year if the party keeps control of the House. Of course, both measures will be shelved in the Senate, where Democratic leaders still think all investors are rich and thus are not deserving of any tax relief whatsoever.

But, in another signal from Senate Republicans, Minority Leader Trent Lott announced last Friday that if the GOP takes over the Senate, it will pass a pro-growth "jobs package" of tax cuts for small businesses and investors next year.



All good ideas. You can tell they're good ideas, even if you are ignorant about economics, because all these measures will certainly give leftists hives.