RE: taxes

["Alan G. Isaac" <AISAAC@xxxxxxxxxxxx>]

Doug, I don't understand you here. Once we grant the
desirability of taxing wealth, why should we care whether
the wealth holder is doing a good job or not of
maintaining it? Further, current arrangements allow
taxes to be postponed (even indefinitely and inter-
generationally) on capital gains. A person selling
losing stocks out of a large portfolio may in fact
be making out like a bandit. --Alan G. Isaac

On Sat, 1 Apr 1995 06:56:36 -0700 Doug Henwood said:
>Even I would find it hard to defend the principle of taxing a losing
>investment. And if it's only a modest gainer, then that income would be
>taxed.