PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: DuckTapeSunroof who wrote (667658)	1/10/2005 9:27:08 PM
From: Peter Dierks	Read Replies (2) of 769670

to the extent any earning is proportionally saved, it (en masse) contributes to national savings --- which most CERTAINLY impacts capital formation! Yes it does. It causes a lack of earnings growth and thus reduces the gross market value. Causing people to be less well off. Savings and capital formation are so dissimilar as to be nearly opposite. "Capital gains is not income" Why the Hell NOT? My capital gains are earned with my mental labor... the fruit of much work selecting and allocating investments. Why should one form of labor be favored by the government over any other form of labor? The money doesn't grow itself... like any gardner, it requires constant attention and effort to succeed! "should not be taxed at all." Like I said: the GOVERNMENT shouldn't pick whose labor to reward, and whose to penalize. A fool thinks she or he can convert savings into capital gains by dollar cost averaging into a mutual fund. Actually, they just converted interest income. (Maybe into dividends, interest, or capital gains.) People who generate capital gains through their sweat and mental efforts are different than Susie and Joe Mutual fund buyers. It is different than selling, designing, practicing a profession or other income activities. Perhaps to suit your point we should exclude capital gains on mutual funds from the tax reduction. Capital formation causes job growth. Saving causes job loss. The two should be taxed according to the social good they are related to. More jobs is a social good. PS - I do not chose to save; I choose to invest. PPS - Look at Japan for an example of how high savings relate to economic prosperity.

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