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To: Art Bechhoefer who wrote (91273)	1/4/2001 7:25:27 PM
From: DOUG H	Respond to of 152472

If you want to stimulate the economy quickly, then you provide a tax cut to the lowest income taxpayers, where you are assured that the money will be spent immediately on necessary consumer items. Would'nt this argue better for savings incentives for low wage earners? If you reduce the capital gains tax, all you do is give more money to wealthier people, who spend only a portion of it. You also increase the gap between rich and poor, Poor don't generally have capital gains to be taxed on. poorer folks need savings incentive plans. Then they can stop being poor.

To: Art Bechhoefer who wrote (91273)	1/4/2001 8:22:56 PM
From: golfinvestor	Read Replies (1) \| Respond to of 152472

<Most economists believe that capital gains should be taxed at rates close to ordinary income, adjusted for the risk of the investment> If your using economist's beliefs as a basis for your argument it holds very little credibility. The CG tax is double taxation and a tax on Americans that are risking their hard earned savings. At the very least the CG tax should be indexed. Also, approximately 50% of the American households own stock. I'm not against a tax cut for the poor, but I would surely give up the lowering of the top tax bracket for an elimination of the CG tax. <The problem with all tax reduction ideas is that special interest groups want to get a larger than justifiable piece of the reduction. You can't get an equitable tax reduction without first adopting strong campaign finance reform> This we agree on, however, true campaign finance reform needs to include restrictions on labor union contributions.