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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: James F. Hopkins who wrote (19238)	9/19/2001 9:20:01 AM
From: Art Bechhoefer	Read Replies (2) of 52237

Re: Capital gain tax cut--Many respected, and conservative economists and tax specialists believe that capital gains should be taxed as ordinary income, but adjusted for inflation in order to provide adequate incentives for taking risks. The elimination of capital gains altogether is not supported by anyone I know of, not just because of the political flack but because it simply is the wrong policy. A much better, less inflationary policy would be directed towards eliminating the corporate tax. With a corporate tax rate of some 34 percent, it is clear that even stupid investment decisions by corporations are partially covered by, in effect, a 34 percent taxpayer subsidy. The current corporate tax also inhibits corporations from paying dividends, as dividends are paid after taxes, and taxable a second time as personal income. Just a few thoughts on why the present tax "reform" and contemplated additions to that reform constitute one of the most stupid tax policies ever adopted by this country in its entire history. Art

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