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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Cary Salsberg who wrote (43609)	3/12/2001 9:18:53 PM
From: Sam Citron	Respond to of 70976

I would accept a 20% capital gains tax which declines to 15% at 5 years, 10% at 10, 5% at 15, and 0% at 20. This idea may mave some merit but it still greatly diminishes the mobility of capital, which is dangerous and inefficient IMHO. A "same day" stock swap with no capital gains tax is probably difficult to keep track of but a reasonable idea. I don't see it as being particularly burdensome. I think this is the best tax idea I have heard all year. Graduated consumption tax with a decent sized zero rate bracket at the bottom is probably preferable considering our poor propensity to save. After some reflection I have come to the tentative conclusion that it is probably easier and more palatable to have low or zero rates of tax on the consumption of necessities and progressively higher rates of taxation on luxury items that are more likely to be consumed by the rich.