Congressman John Campbell's Blog - Green Eyeshade Blog

Tuesday, March 17, 2009

Posted by: John Campbell at 1:44 PM

Yesterday I appeared on CNBC's Closing Bell to unveil legislation that I will be introducing which will repeal the Capital Gains Tax to spur economic activity in 2009.

My interview is featured below.

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DocInsight writes:	Tuesday, March, 17, 2009 2:07 PM
Rep. Campbell
is one of the smartest, well-reasoned and business-savvy members in Congress. He, along with other members of the Republican Study Committee, need to get more "face-time" with their ideas. Paul Ryan, John Shaddegg, Mike Pence, Eric Cantor, Thad McCotter and several others ought to be the "go-to" players for media appearances - not some of the old guard who have no/little emotional appeal. Bring out all your ideas - use visual aids because numbers are hard to follow (remember Ross Perot's goofy - but effective - whiteboard?)- and paint word pictures for each idea. Make it memorable and Keep It Simple, Sweetheart!
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Moonkeeper writes:	Tuesday, March, 17, 2009 2:42 PM
Capital Gains??? REALLY????
Can someone explain how starting a business is effected by the capital gains tax more so then the income tax, or the sales tax? It would seem that a holiday for the capital gains tax is good for those looking to sell their business or some stocks. Yet, the business seller and stock investor don't create as much employment as the business owner keeping more of his or her money and expanding the business.
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Seadog writes:	Tuesday, March, 17, 2009 4:17 PM
Moonkeeper
I don't know the answer to your question; however, there was a news article last week that listed four or five energy companies that were moving to Switzerland and Sweden to escape capital gains tax. I have heard it said that we have one of the highest capital gains taxes in the world and business would bloom were it lowered. I know nothing of business, so do not know if that is true. Number Three Son is in process of setting up a 400 man business overseas. . . He would like to have set up the business in the US, but says he cannot do so because of taxes, i.e, he could not compete. His employees would earn around $40.00 per hour if the facility were in the US. He said wages would not have been a problem -- just the taxes. Plus the country involved gave him the land and will guarantee a sufficient pool of trained employees!
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About John Campbell

John Campbell is a member of the House Financial Services Committee, and has taken a leadership role in addressing the country's top economic issues. Campbell serves as a member of the Joint Economic Committee, and House Committee on the Budget. He has a Bachelor's Degree in Economics from UCLA and a Master's Degree in Taxation from USC.