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Obama's Capital Gains Tax Hike Unlikely to Increase Revenues

President Obama has proposed raising the capital gains tax rate to generate billions in new revenues for the federal government. However, according to data included in the President’s own budget, if implemented this tax increase would at best offset the tax revenue from other sources that would be lost because of reduced total income, output, and jobs in the economy. Thus, the President is intentionally sacrificing jobs in the pursuit of his own notions of fairness with little or no hope of increasing revenues in the process. Further, this proposal is coupled with a proposed dividend tax rate hike that would also cost jobs for little or no gain in revenues. If the President is serious about making jobs his “number one priority,” he should instead propose reducing the capital gains and dividend tax rates to stimulate the economy. ....

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Detailed text transcripts for TV channel - FOXNEWS - 20101031:09:08:00

They ve got a system where they re taxing high income people at very high rates and if they don t have any capital gains they don t have any capital gains revenue. michael, thanks for coming on and we ll watch and see what happens. thank you. when we come back, lessons from the campaign with republicans poised to make big gains on tuesday. democrats are already trying to explain their likely defeat and what s really behind the voter backlash. our [ male announcer ] it simple physics. a body at rest tends to stay at rest. while a body in motion tends to stain motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain ....

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Detailed text transcripts for TV channel - FOXNEWS - 20120710:09:08:00

Where it was above when bill clinton was president. the one thing that distinguished bill clinton s economy was not the tax increases but the tax decreases. it was the cut in the capital gains tax that stimulated capital gains and produced hundreds of billions of more capital gains revenue even though we cut the rate. if obama were to restore everything to the clinton period it would be a very different situation. the president s challenger mitt romney also saying how to get america working again and help the middle class. time now for your first degree weather update. good morning, maria? want to talk about the ....

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Detailed text transcripts for TV channel - FOXNEWS - 20101030:18:08:00

They re losing that tax base. they ve got a system where they re taxing high income people at very high rates and if they don t have any capital gains they don t have any capital gains revenue. michael, thanks for coming on and we ll watch and see what happens. thank you. when we come back, lessons from the campaign with republicans poised to make big gains on tuesday. democrats are already trying to explain their likely defeat and what s really behind the voter backlash. our panel weighs in after the break. diabetes testing? what else is new? you get the blood, hope it s enough, it s what s this? [ man ] new and improved freestyle lite® blood glucose test strip. sure, i ll try it, but [ beep ] wow. [ man ] yeah, that s the patented freestyle zipwik™ design. [ man #1 ] it s like it targetthe blood. targets the bld. yeah, it draws it ght in. the test starts fast. ....

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