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

To: CYBERKEN who wrote (683528)	5/25/2005 3:02:41 PM
From: Peter Dierks	Read Replies (2) \| Respond to of 769670

People who rely on earned income and pensions for their livelihood are jealous of those who invest and earn. Capital gains tax is like a sawed off shotgun used to kill a bug next to one's foot. People who are most harmed by taxing capital formation, those who have earned income, are most supportive of it. Investors are the ones responsible for job creation. Government taking a share of the wealth does not help anyone. The two extremes of wealthy are profligate spenders and the frugal super accumulators of wealth. Both help the economy. Spendthrifts put their money back into the economy, which spurs spending, and cascades around the economy. Wealthy investors create jobs by creating businesses. Even those without the entrepreneurial spirit provide liquidity to the stock and or bond market(s). You are correct. Eliminate the capital gains tax. It is stupid, which is more than can be said for the immoral death tax.

To: CYBERKEN who wrote (683528)	5/26/2005 4:16:36 AM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 769670

ALL earnings, ALL profits (regardless of source, wheither from wages, bond coupons, stock sales, property or asset sales, etc.) can contribute to Capital Formation. Money is fungible, and it flows naturally to where it gains it's highest return, regardless. There is thus no difference, and no reason to have the government discriminate against one form of earnings over another. The government should not pick the winners and losers in the economy by manipulation and tricks with the tax codes --- let the Free Market pick winners and losers, the MARKET will ALWAYS be more efficient then Big Government bureaucrats.