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there are alternatives to becoming socialist.



The Republican Study Committee has released an alternative to the Treasury Department's bailout proposal and will discuss the proposal at a press conference today. Conservatives have expressed concern that the Treasury's proposal will alter the country's free-market system, awards massive authority to the Treasury, and fails to penalize debtholders and shareholders. Here is the committee's free-market alternative as released this morning:

REFORMING A TAX CODE THAT DISCOURAGES CAPITAL FORMATION

Two-Year Suspension of the Capital Gains: Immediately suspend the capital gains rate of 15% for individuals and 35% for corporations. By encouraging corporations to sell unwanted assets, this provision would unleash funds and materials with which to create jobs and grow the economy. After the two-year suspension, capital gains rates would return to present levels but assets would be indexed permanently for any inflationary gains.

http://www.humanevents.com/article.php?id=28678
 
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