Robert Ehrlich: “We talk about success, and the gentleman from Arizona and the gentleman from California were very eloquent, but when we…”

“We talk about success, and the gentleman from Arizona and the gentleman from California were very eloquent, but when we think about it, risk is really at the bottom of success, because what do we do in a free society? We encourage folks, companies, individuals, sole proprietors to go out and risk sometimes their life savings to start a business, to expand their business. Within successful risk we have jobs and jobs creation. I have a quote from Chairman Greenspan, who appeared before the House Committee on the Budget last week and in front of the Senate Committee on Banking, Housing and Urban Affairs in February. On capital gains this time. Think about these words: ``I think it is a very poor tax for raising revenue.'' This is a quote. ``And, indeed, its major impact, as best I can judge, is to impede entrepreneurial activity and capital formation. While all taxes impede economic growth to one extent or another, the capital gains tax, in my judgment, is at the far end of the scale.''”