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INVESTMENT BROKER REACTS TO CLINTON PROGRAM

 NORTH PALM BEACH, Fla., Feb. 18 /PRNewswire/ -- President Clinton's tax and spending program is not likely to reverse the current economic recovery, but neither will it provide much of a boost to what is shaping up as an already spotty recovery.
 That's the analysis of Roy G. Warren, president and CEO of Laffer Warren & Co., Inc., investment brokers.
 "We're not going to see a reversal of the Reagan revolution when tax rate reductions increased the total revenue of the federal government," Warren said. "But higher marginal tax rates for the wealthy, and the associated business taxes will not foster job creation.
 President Clinton's February 17 address to Congress is being couched as the introduction of the debate for change, rather than a concrete plan that is long on specifics, Warren said.
 "We're still waiting for the other foot to drop," Warren cautions. "This Administration will be returning to Congress soon with a health care reform package that is expected to include additional taxes."
 Laffer Warren shareholder Dr. Arthur B. Laffer is the father of supply-side economics and the author of the revolutionary tax-rate reduction legislation that was enacted the first year of the Reagan Administration.
 "This proposal is long on tax increases, and short on specific spending reductions that would bring government spending in line with revenues and not disrupt economic growth," Warren said. "There is a misguided belief that this country can tax its way to prosperity. Businesses must be prudent in how they establish priorities and spend money, and we must expect the same performance from government."
 -0- 2/18/93
 /CONTACT: Robert Kneeley of Robert Kneeley & Co., 305-739-7121, for Laffer Warren & Co., Inc./


CO: Laffer Warren & Co., Inc. ST: Florida IN: FIN SU: ECO

AW -- FL007 -- 8023 02/18/93 15:14 EST
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Publication:PR Newswire
Date:Feb 18, 1993
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