Re: tax on capital

[Harry Veeder <eo200@xxxxxxxxxxxxxxxxxxx>]

Title: Re: tax on capital

> From: John O'Donnell <jackodonnell@xxxxxxx>
> Date: Thu, 05 Jun 2003 08:17:46 -0700
> To: Harry Veeder <eo200@xxxxxxxxxxxxxxxxxxx>
> Cc: post keynesian thought <pkt@xxxxxxxxxxxxxxxx>
> Subject: Re: tax on capital

> Harry Veeder wrote:
> >    
> > >      From: Barry Brooks <barrybrooks@xxxxxxxxxxxxx> <mailto: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. 
> Very analytical, your opinions are obviously much more sensible than logic.
>
> Instead being smarmy, show how such a tax policy could not achieve the goal of wealth sharing. I don't want to hear how you would tax in order to stimulate production, because that is a different goal.
>
> Harry Veeder