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Re: tax on capital


> From: Barry Brooks <barrybrooks@xxxxxxxxxxxxx>
> Date: Wed, 04 Jun 2003 19:37:36 -0600
> To: pkt@xxxxxxxxxxxxxxxx
> Subject: Re: tax on capital
>

>
> Wealth held for use is not a good thing to tax because it's one thing we
> want to encourage.
>
> Income is the indication that wealth is not held for use.  Tax income
> instead of wealth.
>

I tend to agree, but would phrase it differently and say income reflects the
degree to which wealth is being hoarded rather than shared.

Therefore, according to this view, the purpose of taxing income would be to
discourage the hoarding of wealth.


Harry Veeder
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