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Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL)

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To: rd greer who wrote (36085)	7/14/1998 8:27:00 AM
From: Ray Burke	Read Replies (1) of 41046

off topic: 20% and less capital gains tax. taxpractice.com fool.com Gingrich: Slash Top Capital Gains Tax Rate By Eric Pianin Washington Post Staff Writer Thursday, June 25, 1998; Page A04 House Speaker Newt Gingrich (R-Ga.) yesterday presented a potentially costly plan to slash the top capital gains tax rate on investors for the second time in two years, even as his party frets over how to pay for another election-year promise of major tax relief for married couples. ~~ Speaking at a large GOP gathering resembling a cross between a college economics lecture and a political pep rally, Gingrich said another reduction in the capital gains tax rate would "supercharge" an already muscular American economy and unleash a tidal wave of untapped capital gains that would run up government revenue and more than offset the cost of the tax cut. Congress last year reduced the maximum capital gains rate from 28 percent to 20 percent. Under Gingrich's plan - to be offered in September as part of a GOP tax package - the top rate would be further reduced to 15 percent while the rate for lower-income investors would be cut from 10 percent to 7.5 percent. ~~~~ Senate Majority Leader Trent Lott (R-Miss.) indicated he will introduce a similar bill after the July 4 recess. But White House officials, Hill Democrats and some congressional budget and tax analysts took a dim view of Gingrich's proposal. washingtonpost.com general tax info at taxpractice.com Always consult a tax adviser- it's your money-Ray edit also OT CD news biz.yahoo.com

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