From: Enzo Michelangeli <enzo@ima.com>
Date: Wed, 18 Sep 1996 20:13:14 +0800
To: Thomas Dell <tdell@netscape.com>
Subject: Re: Wealth Tax vs. Capital Gains Tax Reduction
In-Reply-To: <323F13CA.7523@netscape.com>
Message-ID: <Pine.WNT.3.95.960918163339.-995979u-100000@stanley.ima.net>
MIME-Version: 1.0
Content-Type: text/plain


Such kind of wealth tax would likely trigger a major sell-off of stocks,
both because holding them would no longer defer taxation, and also for
raising the liquidity necessary to pay the tax. That could potentially
cause a stockmarket crash, and upset a lot of electors. I hope that U.S.
Congress and government be aware of that.

Enzo

On Tue, 17 Sep 1996, Thomas Dell wrote:

> > Needless to say, I despise the idea of a "wealth tax," and I can
> > see various loopholes and workarounds. I'd also expect a lot of
> > folks to simply move out of the country if this were to happen.
> 
> Not without difficulty. While this is not from a reliable source,
> it does seem that the gov't is aware of this issue.
> 
> Tom
> 
> tdell@netscape.com
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