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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: greenspirit who wrote (24630)	7/15/2000 2:31:27 PM
From: Lizzie Tudor	Respond to of 769670

Well, if you guys are for taxing all purchases in some way with a flat rate, including "investments" such as property and stocks - then I'm all for it. That is totally fair and I suspect even the extreme left would support it. My objection to e-bill's initial proposal is that I thought he was thinking of excluding stocks and other investments and that is not acceptable in my view. If you do assess a small tax on stock purchases, the tax base in the country would grow immensely I believe. From my perspective, it would be like a roth ira, where I was taxed once, when I bought and if the stock went to the stratosphere I would pay no more. That would be great. But try to get anybody to agree to taxing the financial mkts in any way, it won't fly. Then you are left with consumption taxes on food, living expenses and the like, maybe real estate - at that point you have a very unfair system because the poor eat about as much as the rich. If you tax stocks then you might get away with a 1% consumption tax for all or some low percentage, but exclude investment purchases and its 20% on food and shelter which would be very painful for some.