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

To: Baldur Fjvlnisson who wrote (334952)	12/30/2002 9:25:07 AM
From: Baldur Fjvlnisson	Read Replies (1) \| Respond to of 769670

And to encourage investments in the jobs of the future - I think we should excite the capital markets by eliminating the tax on capital gains for investments in critical technology companies - zero capital gains on $100 million issuance of stock if it’s held for 5 years and has created real jobs. And we should encourage the measurement of the real value of companies by ending the double taxation of dividends. You know politicians are always talking about the importance of small business. How they create 90% of the jobs and are the engine of job creation. I say it’s time we did something to really help them. During this credit crunch, we should let every rapidly growing small business defer up to $250,000 of federal taxes if they are reinvested in the business. I can think of no better single idea to stimulate the economy - it would create more than 600,000 jobs within three years at little cost to the Treasury. You know, one of the things I learned in the military - and John Glenn will know it well - whether on a ship, a small boat, or flying an airplane as John did - you live and die by your preventative maintenance and equipment investment. The same is true for bridges, rail, highways, buildings, and water and sewer systems. Ask Jane Campbell or Jack Ford - ask any mayor of a city or any small town in rural America -- and they will tell you that long overdue in this country is an investment in our infrastructure - especially transportation. It’s how you create jobs. It’s how you move products. It’s how you make our cities work. And it’s how you help people spend time with their families instead of in traffic jams. And I believe it’s past time we used our ingenuity... our incredibly creativity to fundamentally improve our transportation system by embarking on an extensive commitment to build high-speed rail where it makes sense and alternatives where it does not. Why should we lag behind France, Germany and Japan? We can create jobs, reduce traffic and help people and products get where they need to go. Each of these are measures we can take to create jobs now and spark economic growth. But we also need to rebuild trust between investors and corporations. We need to encourage Americans to have confidence in the markets. Unfortunately, while this President talks tough on corporate accountability - his administration has worked tirelessly to undermine reform and sabotage any meaningful oversight of the accounting industry. They even tried to cut next year’s budget for the SEC by $200 million - further weakening enforcement of corporate crimes. Frankly, we need a President whose approach to abuse is a little more like Teddy Roosevelt and a little less like Herbert Hoover when it comes to keeping an eye on corporate America. We need an SEC chairman who will put investors ahead of industry¼ an Accounting Oversight Board chairman who will make sure they correct the books, instead of cooking them¼ And we need to give the SEC the tools it needs to enforce the laws. PLAN TO ENSURE LONG TERM ECONOMIC GROWTH And just as we need to renew American confidence in the markets, we have to restore long-term confidence in our government with budget and tax reform. That means simplifying the tax code and making sure it puts the interests of all Americans ahead of the special interests. It means closing tax loopholes and cutting corporate welfare. And it means a long-term effort to keep our budget balanced - cutting wasteful spending so we can invest in economic programs that work. And if we’re serious about fairness - and about holding the fabric of America together - we must eliminate unfair tax shelters and cut corporate welfare. This will not only save taxpayers money - it will put government back on the side of the people and allow us to focus on actually creating jobs.