Bush on Tax Cuts and Regulations
Capital gains tax-cut advocates base their claim on the supposition that the present investors want to sell their investments so that they can invest the proceeds in new investments. It also supposes that there are new investors who want to buy the assets of the present investors.
This being so, there is a simpler way to achieve creating new jobs and that is to have the new investors put their money into investments directly. This way 100% of the transaction amount goes into new investments rather than an amount reduced by the taxes the present investors would have to pay.
NOAH SHULMAN
Camarillo
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