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Wednesday, March 30, 2005

The genius of our leadership

What does the State of Oregon need right now?

You betcha -- a capital gains tax cut. Gotta have it.

Those of you without capital gains, never mind, you don't need to understand, get back to work.

Comments (5)

Reduced capital gains tax?
Hey, no piss in my fireplace, if you know what I mean!
Sorry, I gotta get back to work now...

One wonders how far the ship must sink before the rats will finally jump.


Hey, what about capital losses just as Greenspan pulls the plug, whether he wants too or not? The asset valuations are at kind of top right now. How about a four year special deal that is pegged to the certain corrective dip; everybody must claim tax gains within two years based on estimated value today but only if they pay just as it they had converted to cash today. Then, when the drop occurs they have to suck up the loss under the same terms over the next four years. If stocks drop to one quarter of their value we won't be getting anything from the current capital gains rates anyway, will we? The residential home speculators are exempted in most cases anyway, too.

Come to think of it, won't they have to sell some assets to cover the tax now, under my plan, and thus bring some sanity back to the valuations of the things to which the capital gains apply. I'd call it just an equitable thing to do, to compensate for the effective wage deflation, relatively, over the last umpteen years. One market disruption deserves another market disruption, I suppose, to restore equilibrium.

After four years everybody can start with a new basis, a new lower basis. Of course someone might complain that the legislators where gaming the system to maximize capital gains revenue, and they might be accurate.

The Wild Economist . . .

Aren't they doing this because Washington has such a low capitol gains tax? The legislature is trying to prevent people from moving to Washington and then selling their stock. They are just trying to keep more taxes in Oregon and in turn boost Oregon's tax base?

Actually, I know for a fact that is the real motive behind this bill.

Sometimes Jack really does resemble Lars.

Washington doesn't have an income tax at all.

I'm not sure what the Lars comparison is about. I'm sure he loves the bill that I'm complaining about.

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