Dave Camp: “again, I find it interesting that some of my friends on the other side say that nobody benefits from capital gains and…”

“again, I find it interesting that some of my friends on the other side say that nobody benefits from capital gains and dividends when in fact 35 million taxpayers have dividend income and 26 million taxpayers realize capital gains. I think that shows how little they know about employee ownership in America of so many companies where people work. So to dismiss out of hand as if no one benefits from these provisions is absolutely false, and not to mention the effect of these investment tax reductions on our economy and what that means for peoples' individual lives and their prosperity. I spent some time earlier going through a number of statistics about how we have record unemployment, record homeownership, record productivity, and so many indicators of strength in our national economy that are as a result of the 2003 tax relief. Also, the potential tax hike in investment taxes could already potentially be weighing on people about to retire, the 70 million baby boomers who are about to retire, and could weigh on investors as they make their longer-term investment decisions. That is why it is so important that we continue the capital gains and dividend tax relief in reconciliation; that we don't have a tax hike on investment taxes, because that would hurt the economic growth that we have been able to achieve in recent years.…”