Monday, September 20, 2010

Capital Gains Taxes Should Be Abolished

"Absent an outright end to this destructive tax, bureaucrats should at least stop taxing phantom gains." -- Dan Mitchell of the Cato Institute.

The capital gains tax is a perverse form of double taxation that should be abolished. This bad tax is especially damaging because families often are taxed on gains that are solely the result of inflation. This video explains how taxpayers could be protected by indexing the capital gains tax so the levy only applies to inflation-adjusted gains.


 my reply to a Dallas Tea Party email copied below:

While you're pressuring Hunt to change her vote, I suggest you also pressure the other seven tax-hike supporters to change their votes.

"The memo was sent from District 14 councilwoman Angela Hunt's office, who was in agreement with colleagues Delia Jasso, Vonciel Jones Hill, Carolyn Davis, Tennell Atkins, Dwaine Caraway, Steve Salazar and Pauline Medrano."

           Tim Lebsack
            Precinct 3211 Chair
            Libertarian Party of Dallas County

From: mark_5
To: tim_lebsack@yahoo.comSent: Mon, September 20, 2010 11:31:18 AM
Subject:  Petition Dallas City Council to vote Against Tax Increases

Angela Hunt and the Dallas City Council wish to sock Dallas residents with the largest tax increase in 20 years.

Angela Hunt is the swing vote on the Council. She currently favors tax increases.

We wonder: Is ANGELA HUNT THE NANCY PELOSI OF DALLAS, indifferent to the plight of Dallas taxpayers in a worsening recession?

On Wednesday, September 22, the Dallas City Council will vote on tax hikes for Dallas property owners.
          You can Reach Angela Hunt at 214-670-5415 or at or


State lotteries make us worse off by wasting gambling money that would otherwise be productively spent. --  Akiva


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"A republic, by which I mean a government in which the scheme of representation takes place, opens a different prospect, and promises the cure for which we are seeking. Let us examine the points in which it varies from pure democracy, and we shall comprehend both the nature of the cure and the efficacy which it must derive from the Union."
-- James Madison (1751-1836), Father of the Constitution for the USA, 4th US President
Source: Federalist Paper #10, 1787

"It is not the function of the government to keep the citizen from falling into error; it is the function of the citizen to keep the government from falling into error." -- Justice Robert H. Jackson (1892-1954), U. S. Supreme Court Justice
Source: US Supreme Court, American Communications Association v. Douds, 339 U.S. 382, 442 (1950)

If our Trade be taxed, why not our Lands, or Produce in short, everything we possess? They tax us without having legal representation. -- Samuel Adams
(1722-1803), was known as the "Father of the American Revolution." Source: after the Stamp Act of 1765.

"On every question of construction [of the Constitution] let us carry ourselves back to the time when the Constitution was adopted, recollect the spirit manifested in the debates, and instead of trying what meaning may be squeezed out of the text, or intended against it, conform to the probable one in which it was passed." -- Thomas Jefferson (1743-1826), US Founding Father, drafted the Declaration of Independence, 3rd US President Source: to Justice William Johnson, 1823, The Complete Jefferson, p. 322

"The people of the U.S. owe their Independence & their liberty, to the wisdom of descrying in the minute tax of 3 pence on tea, the magnitude of the evil comprised in the precedent. Let them exert the same wisdom, in watching against every evil lurking under plausible disguises, and growing up from small beginnings." -- James Madison
(1751-1836), Father of the Constitution for the USA, 4th US President Source: James Madison's 'Detached Memoranda,' ca. 1817 W. & M. Q., 3d ser., 3:554--60 1946

"Perseverance is more prevailing than violence; and many things which cannot be overcome when they are together, yield themselves up when taken little by little."
-- Plutarch (c.45-125 A.D.) Priest of the Delphic Oracle


Remember you are part of something larger than yourself. – Antony Holland


re: Politicians

"They're not like pro athletes - they're not supposed to get endorsement money." -- Tim Lebsack


* During the last election, voters seemed to believe electing even a half-wit would be an improvement. And Barack Obama is no half-wit. He has all his wits about him. Trouble is, he was also the candidate of choice for those who prefer handouts. And his election marks a major milestone; the “takers” now control the White House and Congress. They control America.

*Obama won 28 states. John McCain won 22. The Obama states are full of debt – with an average per-capita state debt of $1,728. The McCain states are relatively solvent, with an average per- capita debt of only $749.

*In the states that went most heavily for Obama – Hawaii, Vermont, New York, Rhode Island, Massachusetts and Maryland – the average state debt per capita was even higher, at $4,606.  




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