From: Firebeard <stend@grendel.austin.texas.net>
Date: Thu, 15 Aug 1996 00:58:05 +0800
To: Brad Dolan <bdolan@use.usit.net>
Subject: Re: Capital and Taxes
In-Reply-To: <ae36838e05021004b025@[205.199.118.202]>
Message-ID: <199608141319.IAA23659@grendel.austin.texas.net>
MIME-Version: 1.0
Content-Type: text/plain


>>>>> Brad Dolan writes:

BD> Now imagine that I want to make that $100K investment or, more
BD> realistically, that I want to invest $100K in my kid's college
BD> education.  I'm going to have to earn wages of $160K and pay $60K
BD> in tax.  It would make me cranky if the guy next door could just
BD> clip $100K of coupons, tax free, to pay for his kid's education.

BD> While I'm sure Steve Forbes could, I can't think of a moral
BD> argument why income from selling stock should be taxed at a rate
BD> lower (or higher) than than income from wages.

	Because, when you work harder (or more), you are (presumably)
producing more and adding to the economy.  When you leave money in an
inefficient investment, you aren't.  Of course, this is all based on
the premise that income taxes are moral in the first place. (;

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