Political Quotes

JOHN LINDER: “This does not seem all that complicated. It does not change any rates of taxation of capital gains. It excludes 50…”

On the recordApril 5, 1995
This does not seem all that complicated. It does not change any rates of taxation of capital gains. It excludes 50 percent of the gain. Therefore, you are taxed at the 39.6-percent tax rate. Fifty percent of any gain would be excluded, giving an effective rate of 19.8 percent, a lower effective rate. If you happen to be taxed at a 35-percent tax rate, 50 percent of the gain would be excluded, giving you a 17.5-percent tax. It lowers the effective rate in every instance by excluding half of the gain from any taxation at all.
Said by
JOHN LINDER
Georgia
Source
govinfo.gov

Editor's note · Context

Discussing the implications of capital gains tax rates.

Share

Share on XShare on FacebookEmail this quote

More from JOHN LINDER

Sep 23, 2004

That is right. So the consumer of that small business not only pays the $100 plus the payroll tax, it also pays the $724.

govinfo.gov
Mar 21, 2016

Businesses do not pay taxes, they collect taxes from other entities and pass them along. I think we should be honest about that.

congress.gov
Sep 23, 2004

The average income earner pays a 28 percent withholding tax and 7.65 percent, their share of the payroll tax. Their increase in take-home pay would be about 55 percent the next day.

govinfo.gov
Jun 8, 2009

I simply cannot support the creation of a new entitlement that would send another $8.5 billion in unpaid-for Federal spending out the door.

congress.gov
View all JOHN LINDER quotes

Other voices in this conversation