On June 4, 2012, Alan Colmes posted the below in Liberaland:
“If Mitt Romney becomes president, he saves $5 million.
“According to an analysis from Citizens for Tax Justice, 2012 GOP presidential nominee Mitt Romney would save himself $5 million in taxes in 2013 by winning November’s election (assuming he could get his tax plan enacted into law).
“Under his plan, Romney’s tax rate would fall from its current 14.7 percent to 13.1 percent, while under Obama’s tax plan, Romney would pay a 34.3 percent rate. The difference in these rates means about $5 million for Romney’s tax bill.”
What we need are tax and investment stimulus incentives to serve as tools to strengthen economic growth, with the requirement that productive capital ownership is broadened simultaneously. To benefit from lower or no capital gains tax the requirement must be that the investment significantly creates new private, individual owners of the new productive capital assets underlying the investment. The result will reverse the trend that further concentrates productive capital ownership among those who already own, and further creates dependency on redistribution policies and programs to sustain purchasing power on the part of the 99 percent of the population who are dependent on their labor worker earnings or welfare to sustain their livelihood. By stimulating economic growth tied to broadened productive capital ownership the benefits are two-fold: one is that over time the 99 percenters will be enabled to acquire productive capital assets that are paid for out of the future earnings (future savings) of the investments and gain greater access to job opportunities that a growth economy generates.
