Joel Hefley: “why do Republicans and most economists want to reduce the taxes on capital gains? Because it is so important to the…”

“why do Republicans and most economists want to reduce the taxes on capital gains? Because it is so important to the economy of this country. Mr. Speaker, this is vitally important to all Americans, even those who do not own a single piece of stock, who do not own their own home, who do not participate in any pension plan, and who do not have a dime in any mutual funds. In fact, I would even argue that this issue may be even more important to those Americans than to those who actually own capital. How can this be? Our economy depends on investment capital to create jobs. The lower the tax on investment capital, the more the economy will grow and the more jobs created, jobs that people in my district need. And it is often those with no capital of their own who are most in need of an expanding economy and more job opportunities. We need to pass a balanced budget that cuts the tax on capital gains. Job seekers everywhere around the country are counting on it.”