ARRA News Service: Six Reasons Why the Capital Gains Tax Should Be Abolished

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Blogger/Editor/Founder: Bill Smith, Ph.D. [aka: OzarkGuru & 2010 AFP National Blogger of the Year]
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One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. -- Plato (429-347 BC)

Tuesday, May 04, 2010

Six Reasons Why the Capital Gains Tax Should Be Abolished

Dan Mitchell: The correct capital gains tax rate is zero because there should be no double taxation of income that is saved and invested. This is why all pro-growth tax reform plans, such as the flat tax and national sales tax, eliminate the capital gains tax. Unfortunately, the President wants to boost the official capital gains tax rate to 20 percent, and that is in addition to the higher tax rate on capital gains included in the government-run healthcare legislation. [Video]

Tags: capital gains tax, Flat tax, Fairtax, freedom, prosperity competition, reform, bloated spending, Obama Administration, Obama stimulus, government, Dan Mitchell, CATO Institute, Center for Freedom & Prosperity To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!

Posted by Bill Smith at 9:35 PM - Post Link

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