RSS Feed
September 22nd, 2017 
Awake Goy March 9th, 2017 The Honorable Paul D. Ryan Speaker of the House U.S. House of Representatives H-232, The Capitol Washington, D.C. 20515
The Honorable Kevin Brady Chairman, Committee on Ways and Means U.S. House of Representatives 1102 Longworth House Office Building Washington, D.C. 20515
Dear Speaker Ryan & Chairman Brady:
On behalf of the undersigned organizations, we write in support of your efforts to pass pro-growth tax reform and urge you to oppose efforts to increase taxes on capital gains.
The next four years represents an opportunity to reduce — not increase taxes on capital gains. Over the past eight years, the top rate increased from 15 percent to 23.8 percent, and the top integrated rate currently sits at 56.3 percent compared to the OECD/BRIC average of 40.3 percent.
While it appears unlikely that incoming lawmakers and the administration will increase rates outright, they should also be sure not to incrementally move the needle toward higher capital gains taxes in other ways, like boosting taxes on carried interest capital gains.
Carried interest capital gains income is earned through a net gain within a partnership formed between individuals with capital and an expert investor. They are indistinguishable from any other type of capital and so they are paid at the same capital gains tax rates.
While supporters of higher taxes on carried interest capital gains say it takes aim at ‘hedge fund guys,’ it would also hurt pension funds, charities, and colleges that depend on these investment partnerships as part of their savings goals. In addition, small businesses, innovators, and inventors would find themselves increasingly shut out from investment money available to them from these partnerships.
Rather than supporting proposals that lead to higher capital gains tax rates, the incoming Congress and administration should look toward lower rates. One model to follow is contained in the House GOP blueprint, which reduces the top rate on capital gains to 16.5 percent.
Today, pro-growth tax reform is needed more than ever. It is imperative that lawmakers prioritize an overhaul of the tax code as well as protect the areas of the current tax code that promote innovation, investment, and growth.
Sincerely,
Grover Norquist President, Americans for Tax Reform Pete Sepp President, National Taxpayers Union and Foundation Jim Martin Chairman, 60 Plus Association Norm Singleton Vice President for Policy, Campaign for Liberty James Edwards Co-Director, Inventors Project Charles Sauer President, Market Institute Larry Ward Chairman, Constitutional Rights PAC Shaun McCutcheon Chairman, Conservative Action Fund Derrick Hollie President, Reaching America Phil Kerpen President, American Commitment Dick Patten President, American Business Defense Council Adam Brandon President and CEO, Freedomworks Jeffrey Mazzella President, Center for Individual Freedom Colonel Rob Maness Chairman, Gator PAC Donny Ferguson Chairman, BetterEconomy.org George Landrith President, Frontiers of Freedom Andrew Langer President, The Institute for Liberty Judson Phillips Founder, Tea Party Nation Paul Morinville Chairman, US Inventors Andrew F. Quinlan President, Center for Freedom and Prosperity Louis Foreman President, Edison Nation Richard A. Viguerie Chairman, Conservative HQ Adrian Pelkus President, San Diego Inventors Forum Randy Landreneau Founder, Independent Inventors of America Iain Murray Vice President, Competitive Enterprise Institute Dee Hodges, President Maryland Taxpayers Association David Williams President, Taxpayers Protection Alliance Melissa Ortiz Founder and Principal, Able Americans Dan Weber CEO, Association of Mature American Citizens Mario Lopez President, Hispanic Leadership Fund Gregory T. Angelo President, Log Cabin Republicans Willes K. Lee President, National Federation of Republican Assemblies
Source Article from http://feedproxy.google.com/~r/DarkPolitricks/~3/-tmdlbRUB3s/
Posted in 
Tags: 
