Indexing the capital gains tax

September 21, 2010

Sounds like a snoozer of a topic, right?

Hey, wake up! It’s your money we’re talking about here!

That’s right. If you’re an investor (and everyone should be in some form, even in this lousy economic climate), then you’re being ripped off by the capital gains tax. Not only is it a form of double taxation that should be eliminated, but, even at the current relatively low rates, you still lose because of inflation. In fact, as this Center for Freedom and Prosperity video demonstrates, it is quite possible to pay taxes on a “gain” that is actually a loss:

It’s like getting mugged and then being forced to pay for the mugger’s cab fare. Some fun, eh?

More seriously, this kind of taxation eventually discourages investment, which hampers economic growth and job creation, something we just don’t need.


Didn’t we used to be the Americans?

June 20, 2010

I must be confused. First, the French lecture us about toughness in foreign affairs. Then the Germans make us look like spendthrifts. Now even the Russians understand better than we how low taxes create prosperity:

Russia to drop capital gains tax to attract investment

Russia will scrap capital gains tax on long-term direct investment from 2011, President Dmitry Medvedev has said. Mr Medvedev said that in terms of improving Russia’s investment climate “we, I hope, are moving forward”. … Its oil revenues fund, which has been financing the deficit, is expected to end next year, and the government wants to attract more foreign investment to boost the economy.

Meanwhile, our tax environment is set up to do everything it can to drive businesses out of the country, and many states such as California make it worse.

Who are we again?

Via Dan Mitchell, who explains why there should be no cap-gains tax:

RELATED: German Chancellor Merkel say her government and the EU will end stimulus programs and focus on debt. The world really has turned upside down.


Get rid of the capital-gains tax

May 3, 2010

As an investor (and one who believes that private investment is the best way for Americans to secure their retirement), I’ve never liked the capital-gains tax.  Dan Mitchell presents another Center for Freedom and Prosperity video on why the CG tax should be eliminated:

Dan offers six reasons, and I think they’re all sound.

LINK: More at Hot Air.


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