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Non-Tech : Let's end the national debt.
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To: Patrick Slevin who wrote (1)7/25/1999 5:45:00 PM
From: Les H  Read Replies (1) of 109
 
The 401(k) and 403(b) plans used to be pre-tax, including Social Security and Medicare taxes, until the first Social Security rescue plan in 1981 or 1983. They were considered as salary deferrment plans, to my recollection, and they deducted from pay and the taxes were applied to the net. The personal and corporate retirement plans should IMO work in this manner or even be credited against SS taxes one-for-one.

As for Hopkins' complaint about capital gains taxes being too low. The ultra-rich generally don't sell their holdings since the stock is their ownership of their business not just a piece of paper as with most traders and the public. Eliminating the capital gains tax would get rid of the annual tax loss selling that afflicts a lot of small caps and the mutual funds cap gains distributions that hurt small investors more than anyone.
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