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

To: J_F_Shepard who wrote (139693)	4/20/2001 2:21:57 PM
From: greenspirit	Read Replies (1) \| Respond to of 769667

Quite simple actually, but it's easier to just post this link. heritage.org "Economists estimate that trillions of dollars in unrealized capital gains (perhaps has high as $7.5 trillion) exist in the portfolios of American taxpayers.7 Some economists have estimated that significant capital gains rate changes could produce substantial economic benefits and create revenue windfalls for federal and state governments. Many politicians agree. In an article last year for the American Economic Review, Leonard Burman and William Randolph, the two leading tax economists on the staff of the Congressional Budget Office, estimated the response of taxpayers to rate reductions as being on the order of 6 to 1. That is, for every one percent drop in the rate, capital gains realizations would rise by 6 percent.8 Who would pay most of the additional capital gains taxes? As Table 1 shows, these new government revenues would come principally from taxpayers with incomes above $200,000. If, indeed, the federal government wants to draw more tax revenue from wealthy Americans, lowering the capital gains tax rate is one of the most effective ways possible to attain this objective".

To: J_F_Shepard who wrote (139693)	4/20/2001 2:38:48 PM
From: Lost in New York	Respond to of 769667

Also, since you've mentioned it several times, would you please tell us how capital gains tax reductions balance a budget? From you're tone it sounds like you believe that capital gains tax rates play no role in the economy. Do you want to raise rates and eliminate the national debt faster? Please clarify. And on the issue of constitutional amendments, how many amendments did the "Republic" party try to pass in the last few years? I thought the constitution was sacred to conservatives.... Seems to me that Repubs just want to play by the rules. The Constitution does include rules for modification. It's Clintonites that mistakenly believe that the Constitution only applies to the other guy as exemplified by King Clinton's 0/3 record before supreme court during his sexual harassment proceedings.