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Candidates Talk Taxes in Republican Debate

Posted by Brian Garst on June 14, 2011

There were a couple of mentions of double taxation in the recent CNN sponsored Republican primary debate in New Hampshire.

Herman Cain took the most definitive stance, pledging to eliminate the capital gains tax:

CAIN: The thing we need to do is to get this economy boosted. This economy is stalled. It’s like a train on the tracks with no engine. And the administration has simply been putting all of this money in the caboose.

We need an engine called the private sector. That means lower taxes, lower the capital gains tax rate to zero, suspend taxes on repatriated profits, then make them permanent. Uncertainty is killing this economy. This is the only way we’re going to get this economy moving, and that’s to put the right fuel in the engine, which is the private sector.

Rick Santorum also mentioned cutting the capital gains tax, but took a more modest position:

We need to cut the capital gains tax in half which others have proposed but for manufacturers we need to give a five-year window where we cut it to zero.

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