I am really mystified by the insistence among Republicans that lowering the capital gains tax will help the economy.
Here is John Boehner on Fox yesterday:
If we’re really serious about creating jobs, what we ought to do is, we ought to eliminate the capital gains tax for the next two years on any equities that are purchased.
Silly question, who will pay capital gains taxes this year?
The bigger problem with Boehner’s statement is it assumes the market is sinking the economy, when infact the opposite is true.