American Civility

We hope we can attract the attention of Conservative talk show hosts to advance this proposal as a way to obviate bailouts, subsidies, and stimulus projects that the new Democratic administration and Congress are eager to push.

This was originally a idea advance by Conservative icon, Milton Friedman.  But because it was recently endorsed by Liberal and Obama advsior Robert Reich, we believe it can be advanced as a bi-partisan proposal.

Further, it allows Obama to eliminate capital gains taxes altogether, and avoid the debate of extending Bush tax cuts of capital gains.  Capital gains taxes will no longer be necessary.

Equally importantly it will build on the country's disgust with unequal taxation of hedge fund profits (called "carried interest" that is taxed at deferred and lower capital gains rates), golden parachutes, and other tax avoidance schemes.

Finally, the argument can be made that it will make capital more liquid, as complex depreciation and tax credits will no longer be necessary. This will make accounting more transparent and eliminate the need for Sarbannes-Oxley.