What is the best way to checkout by tag

Here is an example. Lets say the last release was LIVE-REL-2-3
All the necessary modules that make up LIVE-REL-2-3 have been tagged with
the LIVE-REL-2-3

Now i am working on LIVE-REL-2-4 and make changes to 3 files. I check in
these 3 files and tag them with the label "BUG23"

There might be developers who have checked in source files and tagged them
with "BUG22", "BUG44" etc which i do not want to include into LIVE-REL-2-4.

LIVE-REL-2-4 should only include "BUG23" which i have just checked in. To
achieve this, i checkout LIVE-REL-2-3 and any files with the "BUG23" label
and build my application.

This checks out the LIVE-REL-2-3 release
cvs co -r LIVE-REL-2-3 mymodule

This checks out the files that had the "BUG23" label.
cvs co -r "BUG23" mymodule

The above works fine but the problem is i have to run the commands in
separate directories. if i run them in the same directory cvs removes files
in the current working directory. For example

- cd into root folder of working directory
- cvs co -r LIVE-REL-2-3 mymodule
             This checks out all files that make up LIVE-REL-2-3)
- cvs co -r "BUG23" mymodule
              This removes everything in the current working folder
including the files i checked out on the previous command and only includes
the BUG23 files.

The only way i can fix this is to do the checkout in separate folders and
then put them back into one folder. This is annoying when i am working on
several bugs. isnt there a way to check out using multiple tags?

Thnks