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Rogers/3SenatorCourtney

S.R._____

ABILL
TolowertheCapitalGainsTaxfromanaveragerateof15percenttoaflatrateof6percentforallUnitedStates
citizens.

BeitenactedbytheSenateandHouseofRepresentativesoftheUnitedStatesofAmericainCongressassembled,

SECTION1.SHORTTITLE

ThisactmaybecitedastheLowerCapitalGainsTaxActof2015.

SECTION2.FINDINGS
Congressherebyfindsanddeclaresthat,
A)Cuttingthecapitalgainsisthesinglebesttaxpolicytoimproveeconomicgrowth.
B)Almosttwothirdsoftotalcapitalgainsreportedonindividualtaxreturnsgotopeoplewhoseincomesexceed
200,000dollars.
C)Capitalgainstaxesrepresentanadditionaltaxonadollarofincomeearnedthathasalreadybeentaxedmultiple
times.

D)Thetaxrateonmostnetcapitalgainisnohigherthan15percentformosttaxpayers.
E)Thetaxationofcapitalgainsplacesadoubletaxoncorporateincome,increasesthecostofcapital,andreduces
investmentintheeconomy.
F)

Highercapitalgainsanddividendtaxincreaseswouldreducetheincentivefornewinvestorstopurchasestock,
dryingupavitalsourceofpermanentcapitalforcompanieslookingtogrowinachallengingeconomy.
G)

Ifthetaxrateondividendsincreasesevenifitsonlyforhighearnerslessdividendmoneywillbepaidout,
hurtinginvestorsatallincomelevels.
H)

InAugustof1981,anothercapitalgainstaxcutwasenacted,thistimethecuttingthetoprateto20percentover
thenext12months,theeconomyhadgrownby3.5percent.
I)Only7.8percentofthetotalgainsarereportedbythethreequartersoftaxfilerswithincomesof50,000dollarsor
less.
J)Someorallnetcapitalgainmaybetaxedat0%ifyouareinthe10percentor15percentordinaryincometax
brackets.
K)TheUnitedStateshasthesixthhighestcapitalgainstaxinworldat28.6percent.
L)Shorttermcapitalgainsaretaxatthesamerateasyourordinaryincometaxwhichcanbeashighas35percent
dependingonhowmuchmoneyoneearns.
M)
WhencapitalgainstaxesareappliedtoincomealreadysubjecttoAmericas39percenttopcorporatetaxrate,the
combinedtaxburdenonU.S.gainscanreach56percent.
N)
From1990to1995,capitalgainstaxcollectionswerebetween25billiondollarsand40billiondollarsayear,less
than3percentoffederaltaxrevenues.

SECTION3.STATUTORYLANGUAGE
A)TheLowerCapitalGainsTaxActof2015shallherebymakethetaxrate6percentforallcapitalgainsofassets,
stocks,bonds,andrealestate.Therateshallbe3percentiftheygift25percentoftheircapitalgainprofittoa
bloodlinerelative.WhomeverthistaxappliestoshallreporttheirearningstotheInternalRevenueService(IRS)
andwillpaythetaxyearly.25percentofcapitalgainstaxrevenuecollectedbytheIRSshallbeallottedtoHomeland
SecuritytobespentonBorderControl.25percentshallbeallottedtotheDepartmentofDefensetoincreasesafety
inthehomeland.25percentshallbespentonloweringthetuitionofpubliccollegesintheUnitedStates.The
remaining25percentshallbespentonupdatinginfrastructures.
B)TheIRSshallenforceandupholdthisactbycollectingthismoneyandshallgiveittoappropriatespendingneeds
thatwereoutlinedabove.
C)IfaUnitedStatesCitizenfailstoreporttheircapitalgainprofit,theyshallbepunishedbyexistingtaxlaw
penalties..IfaUnitedStatesCitizencheatsontheircapitalgaintaxreports,theyshallbepunishedbyexistingtax
lawpenalties.ThisactshallbeenactedonJanuary1st,2016andshallberenewedeverythreeyears.

PressRelease

Acapitalgaincanbedefinedastheprofitfromasaleorinvestment.Thesecapitalgainsrepresentthe
moneyyouwillprofitfromstocks,assets,realestate,bonds,orfutures.Thecapitalgainstaxshouldbe
loweredbecauseitwillimproveeconomicgrowth,corporatetaxisappliedbeforeit,andinflationmakesit
worthlessmoney.Allinvestorswanttheeconomytoimprovesotheycanmakemoremoney.Throughout
economichistory,wehavehadmanyinstancesofthestockmarketplummeting.Intimespast,cuttingthe
capitalgainstaxhasimprovedtheeconomy.
In1981,Congresscutthetoprateof28%to20%whichreeled
inmuchmoreinvestorsbecausetheyknewtheywouldbekeepingmoremoney.Becausemoremoneywas
beinginvested,theeconomyimprovedgreatly.Ifthetaxrateistoohigh,andsomeoneismakingalotof
money,theycouldfeelthreatenedtopulloutoftheirdealbecausetheywouldhavetopaymoretaxmoney
.
Thecapitalgainstaxisrestrictingpeopletoinvestbecausethegovernmentiscollectingtoomuchofit.
Havingmorecapitalinacompanyisbetterbecausethiswillallowemployeestobetterremuneratedand
openingupmorepositionswithincompanies.Thiswillnotonlylowertheunemploymentrate,butalso
advocateforpeopletoinvesttheirmoneyintothestockmarketorotherwaystomakeprofit.Loweringthe
capitalgainstaxwillhelpimproveeconomicgrowthbygivingpeoplemoremoneyandnotlureinvestors
awaybythelargesumoftheywillhavetopay.Thecapitalgainstaxcanbeconsideredasadoubletax.
Stocksthatpaydividendsandcorporatetax.Anexampleofthiswouldbecompaniesthatpaydividendsto
theirstockholders.Adividendisasumofmoneythatisearnedandpaidoutbyacompanytopeoplewho
ownshareinthecompany.Companiesareallalreadyforcedtopaycorporatetaxonalltheprofitthatthey
make.Whenthecompaniespayouttheirdividends,thepeoplereceivingthemoneywillhavetopaytheir
capitalgainstaxonthatmoneyalso.Therefore,itisconsideredadoubletax.Ifpeopleweretohavemore
moneybecausethetaxratewasless,theywouldfeelmoreobligedtoputmoremoneyintothatcompanys
stock.Thistaxisessentiallypenalizingthecompanyformakingaprofitandalsopenalizingyouforthe
companysharingsomeoftheirmoney.JaredMeyersaidinhisarticleTheCompellingCaseforLower
CapitalGainsTaxRates,that

Whencapitalgainstaxesareappliedtoincomealreadysubjectto
Americas39percenttopcorporatetaxrate,thecombinedtaxburdenonU.S.gainscanreach56percent,
(Meyer).56percentisanoutrageousamount.Thinkaboutthat.Ifacompanymakes$100andpaysoutthat
moneyasadividend,thegovernmentwilltake$56ofthat,whichleavesyouwith$44.Thegovernment
shouldntbeallowedtodothisbecausethecompaniesworkedforandearnedthismoney.
Inflationhas
beenabigissueintimespast.Weveseenduringtheworldwidedepressionintheearl1930s.Overthe
past50years,stocksandcarpriceshavegoneupgreatly.Butsincethevalueofthedollardecreased,they
wontbeworthasmuchanymore.Unless,thestockskyrocketedoverthoseyears,thenyouwouldbe
havingabigpayday.InanarticlebyTheTaxAtlas,theymention,Becausethemainincreaseinvalue
overtimeisinflation,mostcapitalgainstaxesareonlytaxinginflation(TaxAtlas).Sayyouweretobuya
homefor$250,000butthehousingmarketincreasesgreatlyandthehouseisnowworth$500,000.Ifyou
weretosellthisproperty,youwouldhaveacapitalgainof$250,000,whichisagoodamountofmoney.
But,duetoinflation,youwouldhavetopaythegovernmentmuchmoremoneyduetothecapitalgainstax
thanifyouweretojustsellitat$300,000
.Thecapitalgainstaxshouldbeloweredbecauseitwillstimulate
economicgrowth,itisadoubletaxation,andinflationmakesyourmoneyworthless.Thecapitalgainstax
appliestoallstocks,realestate,bonds,dividends,futures,orassetsthatyoumakeaprofitoffof.Itisnot
justifiedtoraisethistaxratebecauseitsinglesouttherichandwillmakepeoplelosetheirinterestin
investinginthestockmarket.Ifwedonthaveinvestorsinterested,themarketwilllosevalueandthe
economywillbehurting.