History indicates that lower capital gains taxes have a positive impact on federal revenues. Given the increases in the stock market, inflation and growth of the economy since the late 1980s, realizations and taxes paid are certainly being depressed by the current high capital gains rates. Rather than discouraging American workers and businesses, the Federal government ought to simply get out of the way. They know a lot more than the Federal government ever can or will about creating jobs and products in a competitive marketplace. I would also point out that sound tax policy and economic considerations argue for inclusion of a corporate capital gains rate reduction comparable to the percentage as individual rates are cut.
History proves that capital gains tax reduction is the right course to take.
In the past, reductions always have boosted the nation's economy and increased tax revenues to the federal government. If a goal of this Congress is to pass legislation promoting economic opportunity and growth in America, then common sense suggests that we enact the ReCAP Act. Estate Tax Relief One of the most compelling aspects of the American dream is to make life better for your children and loved ones. Yet, the current tax treatment of estates is so onerous that when one dies, their children are many times forced to sell and turn over more than half of their inheritance to just pay the taxes. This is wrong and I would hope that we all can agree upon that and that something must be done.