I support the bank's efforts to date to help finance tangible and intangible investments in new technologies.

The main engine of the Republican plan was that no capital gains taxes would be due on tangible or intangible investments in an enterprise zone.

The investments protected include direct investment, portfolio investment, and everything which can be categorized as intangible investment, including intellectual property.

More money is now going into intangible investments like education and wilderness preservation, and relatively less into pouring concrete and clearing forests.

One of the priorities which has been identified under the Cardiff process is to improve the sensitivity of the financial markets to the value of intangible investments and investments in knowledge.

New York, thanks to its Wall Street history, ranks along with Delaware and Nevada as a most favorable location for minimizing tax on intangible investment income, like interest and dividends.

The growing design sector is the largest source of intangible investment in the UK economy and the emergence of 3D printing has increased the need for a thorough reassessment of IP and design.

Rudolph G. Penner, an economist at the Barents Group and a former director of the Congressional Budget Office, worries that they gray area between consumption and intangible investment in health and education will be an invitation to expand the definition of investment.

What they fear they are getting is a smaller Government that cuts tangible and intangible investment - everything from advanced technology to adequate medical care for pregnant women - far more than private consumption, which it helps subsidize through Social Security and other ballooning entitlement programs for the middle class.