Won’t hurt U.S. economy

No one likes to pay taxes, and no one likes to die. Above all, no one likes the rich folks out there getting a break on taxes. But wait a minute; hold the phone. Bar the door.

With a reduction in capital gains taxes passed last week, many liberals are crying “foul.” They are claiming that the rich get too many breaks as it is. Giving the economically elite a futher tax break indicates President Bush’s push for more tax breaks in the typically conservative business world, they claim.

It is a common fact that when the people with the money are allowed more investment opportunities, our economy improves. If the 350,000 or so rich folk out there are given a break on capital gains taxes, then it is safe to assume that the money they save will be injected back into an already ailing economy, tax shelters aside.

The money saved through the cuts will not be packed away into shoeboxes or glass jars and hidden under someone’s bed. The money will find its way back into the community through investments, purchases and new businesses. This could not possibly harm the economy; it can only help.

The idea of investors being allowed to take more risks with their money also is a viable reason for the cuts. Our economy was founded on the idea that risks with capital make for an open economy.