PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Peter Dierks who wrote (665855)	12/22/2004 1:16:15 AM
From: DuckTapeSunroof	Read Replies (1) of 769670

"BTW - People who trade stock do not qualify for the capital gains exclusion. Only investors qualify." I know. 1 year + 1 day. "Taxing capital formation is the surest way to stop any economic growth." Aren't ALL forms of income potentially involved in 'capital formation'? 1) Joe Blow works at Walmart. His paychecks get deposited at the bank. The bank leverages the $$$ in capital markets. 2) Whatever Joe Blow doesn't deposit, he spends. What he spends at retail then gets deposited/retained/re-invested. The government has no business carving out narrow tax breaks for special sectors / favored investors....

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