capital for the masses

Anton Sherwood (
Wed, 24 Sep 1997 21:39:12 -0700 (PDT)

Max MOre:
: } I wouldn't have a problem with tax incentives to promote wider stock
: } ownership. (That just means taking less away from people who invest.)

Damien Sullivan:
: Those don't already exist? I've heard the left say capital faces lower
: taxes than labor.

That's true in some countries. For a while in USA, I believe,
it was more the opposite. The left may not be taking into account
the multiple points at which capital is taxed: corporate income tax,
personal income tax on dividends, capital gains tax (on increase in
nominal price of stock at sale), death tax.

Time to re-read DREAMS COME DUE.

Anton Sherwood *\\* +1 415 267 0685 *\\*