Re: That's it! I'm voting for McCain

In article <P0rbk.224163$Tj3.115500@[EMAIL PROTECTED]
>,
 "John Galt" <kady101@[EMAIL PROTECTED]
> wrote:

> 
> That's correct, but there's a big "BUT" associated with that fact. In
fact, 
> more than one:
> 
> 1) The capital gains tax also smacks people who aren't rich, but are
doing 
> their best to invest wisely for their retirement. High capital gains 
> taxation virtually insures that middle america will rely more heavily on

> their Social Security than they otherwise would.

The obvious way to fix that is progressive taxation of capital gains.  

> 2) The tax distorts the markets negatively. When stocks and funds are
going 
> up, all is good. When stocks and funds are going down, after an
increase, 
> tax consideration lead people to hold onto their equities longer than
they 
> should, incurring greater losses.

If I lost money on an investment, what good does a lower capital gains 
tax rate do me?  There's no profit to tax!

> 3) The market went on a 20% tear after cap gains taxes were reduced.
That 
> will likely be reversed if they are increased, with dire impact on
pension 
> funds, retirement accounts, and the like.

So do it in stages.  You know it's the right thing to do.