A Quote by Grover Norquist
Well, certainly the Democrats have been arguing to raise the capital gains tax on all Americans. Obama says he wants to do that. That would slow down economic growth. It's not necessarily helpful to the economy. Every time we've cut the capital gains tax, the economy has grown. Whenever we raise the capital gains tax, it's been damaged.
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Every time we've cut the capital gains tax, the economy has grown. Whenever we raise the capital gains tax, it's been damaged. It's one of those taxes that most clearly damages economic growth and jobs.
There is an old adage that the quickest way to drop your tax take is to increase taxes. If capital gains tax is going to be 50 percent, my contingent capital gains tax is going to be 250 million pounds.
The tax on capital gains directly affects investment decisions, the mobility and flow of risk capital... the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth in the economy.
When you tax capital gains income, you don't help the economy, you hurt the economy, which is why President Kennedy, President Reagan, President Clinton and President Bush all believed we should have a lower rate for capital gains.
Index funds are... tax friendly, allowing investors to defer the realization of capital gains or avoid them completely if the shares are later bequeathed. To the extent that the long-run uptrend in stock prices continues, switching from security to security involves realizing capital gains that are subject to tax. Taxes are a crucially important financial consideration because the earlier realization of capital gains will substantially reduce net returns.
Legislation to create a new 10 percent tax bracket, reduce the marriage penalty, cut the tax rate on dividends and capital gains, and increase the child tax credit have been essential elements in this economic expansion.
The tax on capital gains directly affects investment decisions, the mobility and flow of risk capital from static to more dynamic situations, the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth of the economy.
No one making less than $250,000 under Barack Obama's plan will see one single penny of their tax raised, whether it's their capital gains tax, their income tax, investment tax, any tax.
The capital gains tax is 15 percent now. So I sit there in my office and I make a lot of money by capital gains, and I pay 15 percent, and I pay no payroll tax on it.
There are many people who think we should have zero tax on capital gains, interest and dividends for everybody, as - the very, very wealthy. But recognize that means that Bill Gates and Warren Buffett would pay no income tax at all. And some people say, 'Well, that's a good thing for growth of the economy.'
To focus capital and entrepreneurship into empowering innovation, we should change is the capital gains tax rate. We would be better served by a regressive tax rate, that would become progressively smaller the longer the investment is held.
Why do we fully tax some kinds of income from capital, like interest and dividends; partially tax other kinds like capital gains; defer tax on other kinds, like IRAs; and impose no tax at all on still other types of capital income, like interest on municipal bonds? This simply is not rational. These distinctions don't have any inherent logic.
We must end the iniquitous multi-taxing of the same money. It is not right to tax people's incomes, then their savings on that income, to tax the movement of assets through capital gains tax, stamp duty and tax them again through inheritance tax if they have the audacity to die.
You don't need to raise taxes on rich people, because they create capitalization and investment. But you need to tax speculation - meaning capital gains.
The biggest - one of the biggest barriers to driving economic growth is the capital gains tax rate. I propose taking it to zero.
What I do is allow middle-income families to finally be able to save their money tax-free. No tax on interest dividends or capital gains for middle-income Americans.
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