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To: tcmay who wrote (173015)2/11/2003 4:05:40 PM
From: Mary Cluney  Respond to of 186894
 
<<<Lastly, attempting to manipulate the economy by picking "winners" is what MITI and the Europeans (Esprit) have been doing for decades. It doesn't work.

And it isn't "right" to manipulate tax rates. >>>

I don't think it is an "either/or" situation.

Leaving it to regulators is not a great idea. On the other hand, monopolies of great wealth is also not very attractive.

The answer has to be somewhere in between. The answer has to be in setting up a mechanism to draw the line somewhere. That I admit is not easy.



To: tcmay who wrote (173015)2/11/2003 5:43:50 PM
From: willcousa  Read Replies (1) | Respond to of 186894
 
Tim, I totally agree with your thoughts on tax policy. The founding fathers were quite wise to have a tax system that pretty well met your criteria. The current system badly misallocates capital by having it chase tax-favored deals (shelters, for instance) rather than the best investments.

Will


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