CNOT on polarization states of coherent light

We propose a CNOT gate for quantum computation. The CNOT operation is based on the existence of triactive molecules which in one direction have electric dipole moment and cause rotation of the polarization of linearly polarized light, and in a perpendicular direction have a magnetic dipole moment. The incoming linearly polarized laser beam is divided into two beams by a beam splitter. In one beam a control state is prepared and the other beam is a target. Arguments are given to show that the interaction of polarized states of both beams in a solution containing the triactive molecules can be described as the interaction of two qubits in CNOT.