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To: M Paquette who wrote (55786)	8/12/2006 5:43:29 PM
From: KeepItSimple	Respond to of 213176

I used to live in a state that had an intangibles tax, which was later repealed after the state court found it illegal. I wasn't aware any remaining states still had it. But in any case, the stock or bond that is being taxed by the intangibles tax is not actually paying anything. The person who OWNS that piece of paper pays the tax, with dollars. And dollars, for most people, must be earned with labor. I'm not trying to debate a fine point of semantics- i'm just trying to show you guys that there is no wealth that can come from a printing press- all wealth comes from labor, existing material resources, and as alan mentioned, the intelligence to exploit both of those. Paper, or dollar figures in a computer, cannot generate "wealth" unless someone is willing to exchange labor or resources for that paper. ----- Not a Florida or Kentucky resident, eh? These states, as well as a number of local municipalities, have an intangible property tax. Depending on details of the jurisdiction, you may owe annual tax on those pieces of paper. Not the interest or dividend income, but the actual stocks, bonds, and even accounts receivable between companies or individuals.