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--></style></head><body lang=EN-US link=blue vlink=purple style='word-wrap:break-word'><div class=WordSection1><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'><o:p> </o:p></span></p><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'>From:</span></b><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'> John Clark <johnkclark@gmail.com> <br><b>Subject:</b> Re: [ExI] Free Trade<o:p></o:p></span></p></div><p class=MsoNormal><o:p> </o:p></p><div><div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif'>On Sat, Oct 11, 2025 at 10:30 AM <<a href="mailto:spike@rainier66.com">spike@rainier66.com</a>> wrote:<o:p></o:p></span></p></div></div><div><div><p class=MsoNormal><o:p> </o:p></p></div><blockquote style='border:none;border-left:solid #CCCCCC 1.0pt;padding:0in 0in 0in 6.0pt;margin-left:4.8pt;margin-right:0in'><p class=MsoNormal><i><span style='font-size:13.5pt;font-family:"Georgia",serif'>> History has established the approximately 20% number with the Reagan tax cuts of the 1980s.</span></i><o:p></o:p></p></blockquote><div><p class=MsoNormal><o:p> </o:p></p></div><p class=MsoNormal><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'>>…You need more than one data point to establish anything, and I don't think you have even one data point. And you need to take into consideration </span></b><span class=gmaildefault><b><span style='font-size:13.5pt;font-family:"Arial",sans-serif'>H</span></b></span><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'>e </span></b><span class=gmaildefault><b><span style='font-size:13.5pt;font-family:"Arial",sans-serif'>W</span></b></span><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'>ho </span></b><span class=gmaildefault><b><span style='font-size:13.5pt;font-family:"Arial",sans-serif'>M</span></b></span><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'>ust </span></b><span class=gmaildefault><b><span style='font-size:13.5pt;font-family:"Arial",sans-serif'>N</span></b></span><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'>ot </span></b><span class=gmaildefault><b><span style='font-size:13.5pt;font-family:"Arial",sans-serif'>B</span></b></span><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'>e </span></b><span class=gmaildefault><b><span style='font-size:13.5pt;font-family:"Arial",sans-serif'>N</span></b></span><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'>amed big tax cut during his first administration, he lowered </span></b><span class=gmaildefault><b><span style='font-size:13.5pt;font-family:"Arial",sans-serif'>the </span></b></span><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'>corporate tax rate from 35 to 21 percent</span></b><span class=gmaildefault><b><span style='font-size:13.5pt;font-family:"Arial",sans-serif'>,</span></b></span><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'> and it resulted in</span></b><span class=gmaildefault><b><span style='font-size:13.5pt;font-family:"Arial",sans-serif'> </span></b></span><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'>a 31 percent drop in corporate tax revenue<span class=gmaildefault>.</span></span></b><o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><a href="https://www.newsweek.com/donald-trump-tax-cuts-republicans-corporate-rate-1444133?campaign_id=116&instance_id=10300&segment_id=14415&user_id=24fd8e8519ac5bacbafda36691e5d7ac®i_id=67903149"><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'>Republican Tax Bill Leads to Record-Breaking Drop in Corporate Revenues</span></b></a><o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><div><p class=MsoNormal><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'>John K Clark<o:p></o:p></span></b></p><p class=MsoNormal><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'><o:p> </o:p></span></b></p><p class=MsoNormal><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'><o:p> </o:p></span></b></p><p class=MsoNormal><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'><o:p> </o:p></span></b></p><p class=MsoNormal><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'><o:p> </o:p></span></b></p><p class=MsoNormal><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'><o:p> </o:p></span></b></p><p class=MsoNormal><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'><o:p> </o:p></span></b></p><p class=MsoNormal><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'>Sure but that almost makes it sound like a bad thing.<o:p></o:p></span></b></p><p class=MsoNormal><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'><o:p> </o:p></span></b></p><p class=MsoNormal><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'>That article referred to record-breaking drop. You know what records are for, ja? I bet we can break it again.<o:p></o:p></span></b></p><p class=MsoNormal><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'><o:p> </o:p></span></b></p><p class=MsoNormal><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'>That 31 percent represents capital which ended up somewhere else, such as in the pockets of venture capitalists, where it goes about its capitally business of creating still more capital. Oh life is good. <o:p></o:p></span></b></p><p class=MsoNormal><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'><o:p> </o:p></span></b></p><p class=MsoNormal><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'>spike<o:p></o:p></span></b></p><p class=MsoNormal><b><span style='font-size:13.5pt;font-family:"Tahoma",sans-serif'><o:p> </o:p></span></b></p><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div></div></div></div></body></html>