Summers: Let Bush Tax Cuts Expire
Wednesday, January 28
In case you missed Sunday's Meet the Press, Top Economic Advisor to President Obama indicated in no uncertain terms that the Bush tax cuts will have to expire, which of course would include elimination of lower rates on capital gains. Summers said "I don't think there's any question they have to be repealed. The country can't afford them for the long run. ... They have to be allowed to expire. What the timing will be, that's something that's going to have to get worked out. That's something that's going to have to get worked out through the legislative process."
Visit msnbc.com for Breaking News, World News, and News about the Economy
Posted at 1/28/2009 08:03:00 AM
For three decades, Mark Bloomfield has been an expert commentator on "Politics and Economic Policy on the Potomac." He serves as President and CEO of the American Council for Capital Formation, a Washington-based economic policy business group dedicated to encouraging economic growth through sound tax, regulatory, environmental, and trade policies.
"...to marshal more venture capital for more new industries -- the kind of efforts that begin with a couple of partners setting out to create and develop a new product -- we intend to lower the maximum capital gains tax rate."
"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 in new ventures in obtaining capital, and thereby the strength and potential for growth of the economy."
0 Comments:
Post a Comment
<< Home