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Pastimes : Home on the range where the buffalo roam

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To: Boplicity who wrote (10418)	2/18/2001 11:35:06 PM
From: McNabb Brothers	Read Replies (2) of 13572

>I rather see them lower capital gain tax then income tax, < Big mistake, for why should the Bill Gates of the world only pay 20% of most of their income in the form of capital gains tax when most people will pay much more than that amount that work on a daily basis. Include the FICI tax (15.5 percent give or take a little) on top of the ordinary tax and some people pay close to 50% in taxes. >There is little girl who was having problems completing assignments her classmates were doing at home. You want to know why? They don't have computer at home, < Give this lady and everyone else a tax free break on all income less than $10,000 to $15,000 including FICI tax and then lower the rates for her and everyone else up to the $75,000 to $125,000 level and she and everyone else that does not have a computer will be able to go out and buy one. I'm not sure what levels the gov. could get by with, but that is just an example I think the gov. should look into as far as lowering the taxes that people pay. Remember it is the consumer that drives the economy and when he or she buys is want makes the demands for all the products that the Bill Gates are producing. IMO the capital gains tax is a gift from heaven as is and I also do not believe that if they lower the rate it will cause more investment for if their is no demand from the consumer why make the product. This is why we have slowed down for inventories have built up and the consumer has been taxed already with he's or her's utility bills which in turn has cause them to have much less disposable income in their pockets! I would also include this in the business tax also, for IMO the small business owner will come closer to spending their tax savings money to improve their business's rather than worrying about by how the capital tax rate would effect them if they were to sell their business. Hank

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