Looking back to 2000

We look forward not back 

Does your accountant seem obsessed with last year? If you want to legally pay less in taxes, you need a professional who looks forward. Relax Tax helps our clients focus on planning for a better future, and not the past. If we want to look back at anything, we thought it might be fun let our blog look back at what we learned in the last 50 plus years. You can get a FREE COPY of the entire guide at back.relaxtax.com. Now lets take a look at 2000.

 

2000 Big News Story

George Bush Wins Close Election Despite Hanging Chads

Home prices kept recovering in the first year of the new millennium, up to a median of $135,279. However, the stock market was about to face years of problems. The dot-com “bubble,” created by a tremendous run-up in stock prices at the end of the decade, set off a 30-month downturn in the markets. In December, the Supreme Court made a landmark decision in handing victory in the presidential election to George W. Bush over Al Gore.

Per History.com

Five hundred thirty-seven votes.

That's all that separated Democrat Al Gore and his Republican challenger George W. Bush when, on November 26, 2000, three weeks after Election Day, the state of Florida declared Bush the winner of its 25 electoral votes in the race for U.S. president.

After a wild election night on November 7, 2000, during which TV networks first called the key state of Florida for Gore, then for Bush, followed by a concession by Gore that was soon rescinded, the results for who would be the nation’s 43rd president were simply too close to call.

In the 36 days that followed, Americans learned Gore had won the popular vote by 543,895 votes. But it's winning the Electoral College that counts. As accusations of fraud and voter suppression, calls for recounts and the filing of lawsuits ensued, the terms “hanging chads,” “dimpled chads” and “pregnant chads” became part of the lexicon.

Andrew E. Busch, professor of government at Claremont McKenna College and co-author of The Perfect Tie: The True Story of the 2000 Presidential Election, says as votes were counted and Bush’s lead grew, TV networks retracted their premature call of Gore, instead giving the state to Bush.

“When the lead shrank to about 2,000 votes in the early hours of the morning, TV reversed again, rescinded the call for Bush, and declared Florida as yet undetermined,” he says. “The initial problem was failure of the exit polls, for which they later overcompensated.”

 

2000 by the Numbers

Economic Data from 2000

Grocery Prices from 2000

Personally, it felt like Florida was the center of everything in broken in 2000. For me it was the kForce.com website. The company Romac had bought super bowl ads at normal rates in the summer of 1999 to launch the Kforce.com website and 2000 was why I joined them. They were determined to run those ads in what would later become known as the Dot-com Bowl. The sad fact was that the site wasn't ready and the traffic was going into a black hole. 

The huge opportunity was that demand for oversold ads pace had pushed the secondary market value of the ads to $8 Million a piece. I begged the CEO and execs to sell the ads, take the profit and get the wonderful press that would come with it. The were two proud and instead sent millions of users into a black hole with no way to track who they even were. Needless to say our stock TANKED. 

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