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Article: Abolish capital gains tax
- Article from:
- Human Events
- Article date:
- September 30, 2002
- Author:
CopyrightCopyright Human Events Publishing, Inc. Sep 30, 2002. Provided by ProQuest LLC. (Hide copyright information)
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Following his Waco economic conference, President Bush told reporters about several tax initiatives that he may soon propose to aid beleaguered investors. Although he did not specifically mention cutting the capital gains tax rate, it is almost certain that some action in this area will be included. Final decisions have not been made, but a final proposal is expected soon.
I hope that the administration will avoid making purely pragmatic arguments for cutting the capital gains tax, which should be cut. While such arguments worked in 1978, they have been much less successful since. What is desperately needed is a principled case for why capital gains should not be- taxed at all.
While it ...