In a message dated 97-07-31 04:48:25 EDT, you write: << 1) What percentage of new investment in productive capacity is financed by retained earnings? I think Doug claims between 80-90% What percentage is financed by borrowing from financial institutions? What percentage is financed by assets held in existing pension funds? 2) Is there a segment of such investment--e.g. "venture capital"--that is particularly dependent on private purchases of financial instruments? How much so? High Tech, (Legal) Drugs, Some Business Services - probably less than 10% of total capital formation 3) What percentage of realized capital gains come from assets which do not represent new investments in productive capacity, e.g. previously issued equity? What do you mean? New investment in PP&E should first boost operating income, realized cap gains usually come later except in financial services (e.g. insurance) most operating profits come from realized capital gains. 4) Is there any significant (new) evidence on the beneficial economic effects of cutting the capital gains tax? Paul Craig Roberts seems to think there is, but, well, consider the source. Doug? Max? Anyone? Thanks in advance for any help. In solidarity, Gil Skillman PS--I'd be happy to post a copy of the final draft to anyone who would like to use it as a template for their own communication. Gil, My congressperson - Jerry Nadler - voted against it because he couldn't read the 2500 page document in one night. That's what "democracy" has evolved to: Lott, Gingrich and Billy Boy decide what they want and then give it to us! Jason
