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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: Henry Volquardsen who wrote (1798)6/16/1999 4:00:00 PM
From: Freedom Fighter  Read Replies (1) of 3536
 
Henry,

>>Also the savings rate in the US is not negative. Those stats are notoriously inaccurate. <<

I am aware of the savings rate quirk related to capital gains taxes but I think in some ways it is brings false optimism to the table.

The increased capital gains tax paid increases the tax receipts to government (federal, most state, and some local) and thereby reduces their credit demands by an amount equal to the reduction in the personal savings number. No bull market = lower capital gains taxes = higher savings = budget deficit.

And the capital gains should not count as income (IMHO) because the proceeds from the sale to me are offset by someone else's purchase of the shares so no new money is available for lending.

Wayne
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