Bob Beauprez: “in coming days and weeks, this body will take up issues of economic growth and taxation fairness. The President has…”

“in coming days and weeks, this body will take up issues of economic growth and taxation fairness. The President has suggested the elimination of the tax on dividends, a tax paid of course by investors, half of which I am told are senior citizens, treated as ordinary income. This tax is rightly referred to as a double tax because companies that pay dividends have already been subjected to a corporate income tax. Thus 60 percent or more of every dollar of business profit, when taxed both at the corporate and personal level, could end up in the Federal tax bucket. This seems excessive. It seems unfair. It seems a penalty on success. This is clearly a disincentive to capital investment which is critical, of course, to job creation; capital investment, which declined for eight consecutive quarters of our battered economy. Mr. Speaker, I am certain every Member of this body is committed to more job availability for Americans, especially now. Elimination of the dividend tax would be an incentive for capital investment which is necessary for job creation. Let us do American workers a favor and eliminate the dividend tax now.”