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Raising Capital-Gains Taxes May Negatively Affect U.S. Economic Growth and Prosperity
Fully produced report in MP3 format:
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(75 seconds)
-- How Will You Use This Story? --
(OPEN):
THE U-S SENATE FINANCE COMMITTEE IS CURRENTLY
CONSIDERING LEGISLATION THAT WOULD INCREASE THE TAX RATE ON CAPITAL
GAINS, FOR INDIVIDUALS AND PARTNERSHIPS. PHIL KERPEN--POLICY
DIRECTOR FOR AMERICANS FOR PROSPERITY--EXPLAINS HOW
THIS LEGISLATION WOULD HAVE AN ADVERSE EFFECT ON GROWTH AND
PROSPERITY--BOTH FOR THE U-S, AND FOR INDIVIDUAL WORKERS AND
INVESTORS...
(KERPEN):
"PASSAGE OF THIS LEGISLATION CURRENTLY BEFORE THE FINANCE
COMMITTEE WILL SIGNIFICANTLY RAISE THE COST OF CAPITAL--DRYING UP
INVESTMENT IN MANY INNOVATIVE, ENTREPRENEURIAL COMPANIES--AND WILL
JEOPARDIZE FUTURE JOB CREATION. RAISING CAPITAL-GAINS TAXES ON
PARTNERSHIPS WILL NEGATIVELY AFFECT U-S COMPETITIVENESS IN THE GLOBAL
MARKET--BY TAKING INVESTMENT DOLLARS OUT OF THE U-S. ADDITIONALLY,
PRIVATE EQUITY PROVIDES RETIREMENT SECURITY FOR TENS-OF-MILLIONS
OF ORDINARY AMERICANS WHOSE PENSION FUNDS INVEST IN PRIVATE EQUITY.
THE LARGEST INVESTORS IN PRIVATE EQUITY ARE PENSION FUNDS, ENDOWMENTS,
AND FOUNDATIONS--COUNTING FOR MORE THAN ONE DOLLAR IN THREE. THE
SENATE FINANCE COMMITTEE SHOULD USE HISTORY TO GUIDE THEIR COURSE OF
ACTION: OVER THE PAST 30 YEARS, EVERY CAPITAL-GAINS RATE-HIKE HAS
LED TO LOWER FEDERAL REVENUES--WHILE EVERY RATE CUT HAS LED TO HIGHER
REVENUES."
(CLOSE):
KERPEN ASKS INDIVIDUALS TO CONTACT THEIR SENATORS, AND URGE THEM TO VOTE
AGAINST ANY LEGISLATION THAT WOULD INCREASE THE CAPITAL-GAINS TAX, AND
HARM AMERICA'S PROSPERITY.
