[sphinx]

And the notion of eliminating taxes on the profits of stock sales if these profits are used to buy more stocks is nonsense -- Democrats have rightly been criticized in the past for what they call "targetted investment."

It makes a lot of sense. It moves us closer to a consumption tax system that doesn't penalize savings and investment. Why should you have to pay a tax tariff just to dump Acme Widget and buy Global Gadgets? The time to pay taxes is when you cash money out of the market, not when you reshuffle your portfolio.

[churchillbuff]

cash money out of the market, not when you reshuffle your portfolio"""

Unless the money's in an IRA or 401-k or the like, you can't reshuffle your portfolio without selling stocks - - and paying taxes to the government.

[Wyatt's Torch]

The time to pay taxes is when you cash money out of the market, not when you reshuffle your portfolio.

Why pay any taxes at all on already taxed money put at risk?

[Alberta's Child]

Why should you have to pay a tax tariff just to dump Acme Widget and buy Global Gadgets?

I agree with you 100%. In fact, I agree with you even more than 100%, since you really don't go far enough. Why should I have to pay a tax tariff just to dump Acme Widget and buy U.S. Treasury bills or commercial real estate?

Don't you see the point here? Kudlow, Moore, et. al. are not trying to strengthen the U.S. economy -- they're only trying to strengthen the stock market!