REPEAL CAPITAL GAINS TAX PREFERENCES, CONGRESS INVITED BY TAX EQUITY ADVOCATE DR. ULYSSES S. CROCKETT, JR.

About Author: A.B. Cum Laude Political Science '68 University California Berkeley; J.D. '71 Boalt Hall School Of Law University California Berkeley; LL.M. '73 Columbia University Law School (Corporate Taxation); Yale Law School Visiting Scholar '85 (Collapsible Corporations Publication); Leland Stanford Junior University Hoover Institute Visiting Scholar '86 (Treasury Department Proposed Corporate Tax Integration-wealth, Ad-Velorem Tax Legislation Mongraph Publication); Dean Of Instruction Carlton R. Inniss, III Oakland Alameda Community Law School, Inc. Ulysses Crockett lives in Emeryville, CA, composes and performs Jazz Music on Vibraphones and Flute.

See Ulysses S. Crockett, Jr., 'Taxation Of Interst On Indebtedness In Corporate Acquisitions: A Congressional Response Merger Tax Reform' 10 Indiana Law Review 419 (1976); 'Tax Exemption For Mergers & Consolidations: A Legislative History', LL.M. Thesis, Columbia University Press (1973).

echojurist@yahoo.com
www.createspace.com
www.mixx.com/tags/china
http://blogigo.com/ulyssesssecojurist
www.babelation.com
www.associatedcontent/article/903961
musiclistings.ebay.com_Records
hnn.us/blogs/archives/31/2005/08
newmedinaproject.blogspot.com/2008/oljm-just.tube@30854minutes
ws.autoscrobbler.com/10/user/xe54
michael-podgayets@cien.ru
askdoj@usdoj.dov
www.msnbc.msn.com/id/26108167
www.digg.com

THE ECONOMIC "MYTH" OF CAPITAL GAINS INCOME

An Historical Economic Reminder From Economic Thinker Adam Smith's Classic Text, 'Wealth Of Nations' about manufactures and merchants: such are "...men whose interests are never exactly the same with that of the public, who have generally an interst to deceive and even to oppress the public, and who accordingly have upon many occasions, both deceived and oppressed it".

1. Adam Smith additionally observes "...it was not by gold or silver, but by labor, that all the wealth of the world was originally purchased. In plain terms, labor creates all wealth. Therefore, in economic fact "capital" is labor by another deceptive name, invented from thin air by manufactures and merchants who today, employ in excess of 10,000 Washington D.C. lobbyists at salaries per lobbyist, exceeding 100,000 dollars annually to persuade 535 members of Congress , and on many occasions, actually write, legislation favorable to selected individuals and special plutocrat interest groups for the purposes of obtaining greater individual and special plutocrat group wealth and resource control, to the substantial economic detriment of the majority U.S. resident workers. Accordingly, under the plutocrat U.S. economic system, there exist "socialism" for the minority wealthy and fend-for-oneself "capitalism" for the majority worker class. The recent book by progressive human rights rule of law advocate Naomi Kline, 'Disater Capitalism' sets forth in detail the deceptive and oppressive economic conduct by the minority plutocrat capitalist class which behavior is bankrupting residents, small businiess entities and the entire U.S. economy.

2. In sum, income and "capital Gains" taxes must be replaced with a more equitable wealth tax for economic sustained growth, realization of human rights to adequate housing, education, health care, full employment and ecological planet preservation. Since all wealth is derived from labor, a fortiori, so does all capital and once labor is taxed, that should end the imposition of tax. Yet, under past, current and continuing economic deception, minority plutocrat holders of wealth produced by so-called "investment" of capital (qua labor) is - by tax legislation deceptions on labor-capital producers - not taxed at all or at preferential lower rates. Indeed, U.S. economic aparthied slavery is alive and well under color of law.

3. Yet, where labor-qua-capital is transferreed , vi et armis, through slavery and exploitation with no equal value benefits reciprocally transferred to labor producers, then we have trespass de bonis asportatis or forceful theft. The equitable remedy for this economic human rights crime is to tax holders of wealth and not labor-qua-capital which tax nomenclature must encompass all mythical decfeptive names which constitute actual wealth in fact. See, Internal Revenue Code Sections 1001, 1002, 1221, 1222, 368 for examples of deceptive plutocrat tax statutes drafted by and for the benefit of wealth holders of labor-qua-capital receiving preferential treatment of lower rates at the expense of higher tax rate-paying unwealthy workers. The concerned Taxpayer is insructed to review the seminal text by Phillip Stern, 'Rape Of The Taxpayer', which chronicles the secret back-room Congressonal Joint Commmittee on Taxation re-drafting meetings selecting preferred wealthy idividuals and groups to receive favorable tax treatmente. After the Joint Committee On Taxation completes its secret taxpayer theft legislation, the resulting legislation is usually unrecognizable from the original House and Senate versions. The final bill is then , in most instances, aproved by both houses with substanial majority votes with voting congresspersons or their respective staffs not having read the final version of the Legislation. For example, the so-called 150+ page "Patriot Act", drafted by the Executdive Office, was intentionally submitted to Congress on the weekend and aproved by majorities in both houses while only a few Congresspersons having read this important uncostitutinal anti-civil rights legislation.

4. The measure of wealth should be assets held or substantially controlled as to use and power to dispose, which measure would exact minimum burden and revenue from the unwealthy. In this connection, let the reader observe all the castles of Europe were built by the theft of labor from exploited indigenous slaves worldwide. Such an equitably designed annual national tax on wealth would serve to perodically redistribute national wealth among all residents resulting in greaer social harmony, political-economic democracy and equity as explained by economist and Stanford University professor Thorsten Veblin in his 1918 classic treatise 'Theory Of The Leisure Class'.
See also, Slawson, 76 Yale law Journal, for analyses of equitable tax treatmtent for realized but unrecognized gains in value of stocks and securities held by taxpayers.

-Further analyses to follow-February 12, 2009; September 27, 2009;