Double Taxed

Fighting to end destructive double taxation

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    Double Taxed is the official website for the Double Taxation Working Group, a project of the Coalition for Tax Competition. Our mission is to eliminate instances of double taxation, including death, capital gains and dividends taxes.
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Working Group Letter Thanks Senator DeMint

Posted by Brian Garst on July 6, 2010

Last week the Double Taxation Working Group sent a letter to Senator DeMint thanking him for his leadership on tax issues.   His proposed amendment would have made permanent the current 15% rates on capital gains and dividends.

Sixteen members of the Working Group signed on to the letter, which can be found here.  Here are a few quotes from Working Group members:

Andrew Quinlan, President of the Center for Freedom & Prosperity Foundation:

    “Although his legislation failed to pass, Senator DeMint has demonstrated that he is willing to lead on this crucial issue.”

Dan Mitchell, Senior Fellow, Cato Institute:

    “Many of America’s major trading partners have no capital gains tax because policy makers in those jurisdictions understand the importance of saving and investment. Unfortunately, class-warfare concerns trump growth for many American politicians.”

Duane Parde, President of the National Taxpayers Union:

    “Washington already sent the wrong signal to a fragile economy by enacting a health-care law that will eventually raise the top tax rate on desperately needed investment activity. This is just one more reason why Senator DeMint’s efforts to keep capital gains taxes from rising further are so vital to a sustainable recovery.”

Grover Norquist ~ President, Americans for Tax Reform:

    “The capital gains tax should be ‘zero’. There should not be any redundant layers of tax on savings. But at the very least, the 15 percent rate should not go up. Unfortunately, that’s exactly what Obama and Congressional Democrats propose to do in January.”

Karen Kerrigan, President & CEO, Small Business and Entrepreneurship Council:

    “Senator DeMint’s leadership on this issue is greatly needed. Taxes on capital and savings harm small businesses, which rely heavily on investments to create jobs.”

John Berlau, Director, Center for Investors and Entrepreneurs, Competitive Enterprise Institute:

    “A capital gains tax hike will especially hurt small entrepreneurs with innovative ideas. Investors are much less likely to risk their money on the startup that could be the next Google or Facebook if the government takes more of their return should the venture be successful. “

James L. Martin, Chairman, 60 Plus Association:

    “Dividends are an important source of income for seniors.  Senator DeMint agrees with 60-Plus, as we are both committed to preventing seniors from being hit with an unnecessary tax increase on a key part of their livelihood.”

Larry Hart, Director of Government Relations, American Conservative Union:

    “The failure of the economic policies of this Congress and the Obama Administration is now becoming evident in the pathetic private sector employment figures. As the American public becomes aware of this coming body blow to the economy in the form of higher taxes, the grass roots revolt we have seen so far will pale by comparison.”

One Response to “Working Group Letter Thanks Senator DeMint”

  1. […] by Brian Garst on July 20, 2010 We recently praised Senator DeMint for his efforts on capital gains and dividends.  Now, he’s promising to force […]

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