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Strategies & Market Trends : Steve's Channelling Thread
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To: Zeev Hed who wrote (7208)11/5/2000 3:01:45 PM
From: Steve Lee  Read Replies (1) of 30051
 
Zeev, if there is a problem with excess liquidity from incentive to invest, then perhaps higher rates are the answer, to make people think twice before investing in bubbles - and to give an alternative in the money market?

On your Bill Gates example where it is a problem to give greater tax concessions to the rich, surely these are the people that need to be incentivised to stay in the country. The rich can relocate easily. I don't class myself as rich but even I have most of my taxable gains occuring outside of my home country (although my decision to invest in US rather than UK markets was more down to greater opportunity and freedom of info than tax considerations).

If you tax millionaires punitively, they will go live somewhere more reasonable and you lose all their tax dollars. Surely it is better to get 10% of $100MM than 50% of the $100,000 people. The $100,000 guys won't leave the country or stop working because the rich are paying a lower rate of tax.

I don't know enough about your economy to make a definite choice between Bush and Gore, but I think you are lucky that neither are hard right or left. I think they are both weak in terms of personality and hence leadership qualities, pretty much the same situation we have in the UK with our leader and opposition leader. A sharp and disappointing contrast to the Raegan/Thatcher era (not that I don't think either of those characters made mistakes).
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