Topics in the News: Capital Gains
Robert F. Kennedy Jr. on Tax Reform
: Jul 18, 2023
Exempt conversion of bitcoin from capital gains taxes
Kennedy announced his administration "will exempt the conversion of bitcoin to the U.S. dollar from capital gains taxes.""The benefits include facilitating innovation and spurring investment, ensuring citizen privacy, incentivizing ventures
to grow their business and tech jobs in the United States," he added. "Non-taxable events are unreportable and that means it will be more difficult for governments to weaponize currency against free speech, which is one of my principal objectives."
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Source: TheStreet.com on 2023 Presidential hopefuls
Mike Pence on Tax Reform
: Sep 22, 2020
Capital gains tax cut increases revenue & creates jobs
Pence wrote, "Conservatives of both parties managed to return the capital gains tax to slightly below its 1986 level of 20%, and in so doing ensured vigorous growth in the nation's economy. Although House Democrats referred to the legislation
as 'immoral' and 'a financial disaster for the country,' the evidence is clear that a reduction in the capital gains tax rate increases revenues, stimulates economic growth and creates jobs." [Indianapolis Star, 11/14/89]
Pence said, "To end the uncertainty that is stifling investment, innovation and growth, we must preserve current tax rates and promote permanent tax reform. Congress must permanently extend the 2001 and 2003 tax rates to ensure no American faces
a tax hike on January 1st, and I have introduced a bill with Sen. Jim DeMint to do just that. Most Americans know that higher taxes won't get anybody hired. Raising taxes on job creators won't create jobs." [Detroit Economic Club, 11/29/10]
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Source: Trump Research Book on Mike Pence
Joe Biden on Budget & Economy
: Feb 19, 2020
Ordinary people are getting killed by this economy
We ought to start rewarding work, not just wealth. The idea that we have a tax rate for corporate America at 21 percent is ridiculous. It should be 28 percent. The idea that we have companies not paying anything, they should have a minimum tax of
15 percent. The idea that you're able to have a capital gains tax that you pay at the rate of 20 percent if you are Mike Bloomberg, your staffer is paying at 25 percent is wrong. The middle class is getting killed, and the poor have no way up.
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Source: 9th Democrat 2020 primary debate, in Las Vegas Nevada
Joe Biden on Corporations
: Oct 15, 2019
Double the capital gains tax
Take a look at the tax code right now. We have to start rewarding work, not just wealth. I would raise the capital gains tax to the highest rate of 39.5%. I would double it, because guess what? Why in God's name should someone who's clipping coupons in
the stock market pay a lower tax rate than someone like a schoolteacher and a firefighter. We need to make it clear that we are going to raise taxes on the wealthy. We're going to reduce tax burdens on those who are not.
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Source: October Democratic CNN/NYTimes Primary debate
Joe Biden on Corporations
: Oct 24, 2017
1972 Senate race: Opposed capital gains tax cut
As Team Biden neared the finish line, they were running out of money. And they needed to keep their radio ads on the air. If they lost the ads, they'd lose the election. But with ten days to go until election day, the coffers were empty. So, Val
[Biden's sister campaign manager] arranged a meeting with some fat-cat investment counselors. They were ready to give. In a private meeting, they asked Biden what he thought about lowering the capital gains rate. "I knew the answer I thought
they wanted to hear," Biden remembered. "All I had to say was that I'd consider it. And I couldn't say it--I just couldn't lie to their faces." He told them he wasn't for changing capital gains.
The meeting ended. On the way home, Brother Jimmy told
him. "Joe, I sure in hell hope you feel that strongly about capital gains because you just lost the election." Biden didn't look back. Instead, he took out a second mortgage on his home. The ads stayed up.
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Source: The Book of Joe, by Jeff Wilser, p. 42-43
Bernie Sanders on Tax Reform
: Apr 30, 2015
Double the capital gains tax for the wealthiest 2%
The current ranking minority member on the Senate Budget Committee, Sanders would nearly double taxes on capital gains and dividends for the wealthiest two percent of Americans. In addition, this year Sanders asked President Obama to use
executive action to close six tax deductions benefitting corporations and hedge funds. The Vermont senator would use some of the revenue gained from higher taxes on the rich to lower taxes for middle and lower class Americans.
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Source: PBS News Hour "2016 Candidate Stands" series
Jill Stein on Tax Reform
: Dec 21, 2011
Incomes rise for wealthiest 1% but their taxes have fallen
Q: What are your views on progressive taxation? A: It's outrageous that the wealth of the top 1/10 of 1% has risen in the past decade while their taxes are cut via capital gains. No one is even talking,
Democrat or Republican, about restoring the capital gains tax. The solutions even by progressive Democrats barely begin to scrape the surface of the problem.
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Source: 2011 OnTheIssues interview with Jill Stein
Page last updated: Nov 02, 2024
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