Andrew Chamberlain cites a WSJ article making the case for inflation-indexing of Capital Gains. I am a sharp opponent of such indexing, declaring there is an insufficient amount of managerial talent expressed in the acquisition of such Capital Gains, if such nominal taxation cannot be accepted without a real Profit.
Donald Boudreaux reflects the attitude We should redirect to the concept of inflation-indexing of Capital Gains. Cheap imitations who do not met the standard of entrpreneurial talent should be discarded. Nominal taxation of Capital Gains is the best way to discharge poor Managers. Arnold Kling does not know it, and probably does not believe it, but he backs up my position with this Post; a more rational examination of environmental factors. I will leave it to the Readers to determine why I would refer to Nietzsche on Socialism at this point (think Socialism is the radical inverse of radical Capitalism).
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The Institute of Supply Management said yesterday that its manufacturing index dropped to 52.9, the lowest since May 2005. An index reading of more than 50 signals expansion.
The group’s manufacturing employment index declined to 49.4, from 54 in August. The index of inventories fell to 46.4, from 50.2.
Other components showed little change. The production index, a measure of work being performed, declined to 56.1, from 56.6 the month before. The supplier deliveries gauge, a measure of how long it takes companies to receive goods, fell to 54.1, from 55. The index of orders in backlog dropped to 46.5, the lowest since March 2003.
All numbers less than 50 are bad news! Will the Slide continue? We will have need to cut the bad Managers if it does. lgl
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