The index has dipped in the last few days, but it is still charting above 6,000 points – an all-time high – and has been since April 25.
The Foundation reported that overall, only two other tax jurisdictions have higher corporate taxes than the United States – Puerto Rico and the United Arab Emirates.
The capital gains tax severely hampers market growth – and as I propose in my book, it should be eliminated completely.
economy in business and investment from 1997 to 1999 was such that federal revenue collected under the reduced capital gains rate was $279 billion – well over the $195 billion the Joint Committee on Taxation had estimated we would collect in that period.
Congress and the White House should also take note of Nasdaq’s blueprint and work to modernize the structure of our financial markets – as well as the regulatory framework that surrounds them – to account for new technologies that allow investors to trade in real-time.