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Politics : Politics for Pros- moderated

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From: LindyBill	10/10/2005 8:37:42 PM
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Corporate Capital Gains Tax By Kudlow Money Politic$ I am hoping that President Bush’s Tax Reform Commission, headed by former Senators Connie Mack and John Breaux, comes up with thorough reform of burdensome corporate taxes. The 35% U.S. corporate tax rate is higher than almost all the European rates. So is the 35% corporate capital gains tax, which is stopping many transactions and unrealized gains from ever being unlocked. It is also preventing the reinvestment of gains into new ventures that would grow the economy and create jobs. Sources tell me Warren Buffett has unrealized gains of $35 to $40 billion worth that could be reinvested. I think this corporate capital gains tax should be cut to 15%, or better yet, eliminated altogether. I'll bet a corporate cap gains tax cut would pay for itself just as the individual cap gains tax cuts have been self-financing. It would certainly spur growth. It would reward investors. And it would reinvigorate the economy's creative juices. Hopefully the tax reform commission will not forget the corporate capital gains tax. That's my take…

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