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Author: Lokicious Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35379  
Subject: Re: screw the working guy/gal Date: 1/7/2003 3:11 PM
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The fairness comes from avoiding double taxation of income, not from any perceived disparity between the wealthy and the poor.

Foobar,


If "double taxation" were ended at the corporate, not individual taxpayer level, that would allow for a fairer approach to taxation of savings (there would still be long term capital gains, but that's less of a difference than marginal rate vs. zero). The Shrub plan does nothing for dividends in tax deferred plans, which is where most non-wealthy investors have most of their stock holdings, and it privileges buying stocks, which are riskier, which means those who cannot afford to take risks (this isn't psychological fear of risk taking, it has to do with consequences of risk taking, which can be dire for those with less money) get stuck paying the taxes.

If they want to end "double taxation," it should be at the corporate level, as all the credible economists I've read suggest, but this way is better politics.
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