Newt has a "new, bold idea"!! Capital gains cut.... just like he has been pushing for NINE YEARS

[underpants]

3:12 video of the Newtster here
http://www.youtube.com/watch?v=mniBvStv4hg

Gingrich Pushes 90s-Era Proposal To Eliminate Capital Gains Taxes As ‘A New, Bold idea’»
http://thinkprogress.org/2009/02/17/gingrich-bold-capital-gains/

Last week, Newt Gingrich’s American Solutions for Winning the Future rolled out its “12 American Solutions for Jobs & Prosperity” plan, which he calls an “alternative” to President Obama’s economic recovery plan that “isn’t more money for more government, more power for politicians and more make-work for bureaucrats.”

Bill Bennett hosted Gingrich on his radio show today, offering him a forum to push his proposals. During the conversation, Gingrich claimed that solution #8 on his list — eliminating the capital gains tax — was “a new, bold idea”:

GINGRICH: And we have three big things. First, we have zero capital gains. We eliminate the capital gains tax, which is the same as China and Singapore. Second, we go to the Irish corporate tax level, which is 12 and half percent. And third, we make permanent eliminating the death tax, so that small businesses and family-owned businesses aren’t threatened by the IRS when somebody passes away. Let me mention briefly on capital gains, cause it’s a new, bold idea. It’s one that Congressman Paul Ryan of Wisconsin’s been working on.

There is nothing “new” about Gingrich’s idea. In fact, Gingrich has been pushing for it since 1997, when he was Speaker of the House:

Aggressively pushing tax cuts back to the forefront of his political agenda, Speaker Newt Gingrich suggested today that all capital gains and estate taxes be eliminated. He vowed that with or without President Clinton’s support, House Republicans would vote on a tax cut this year.

In September 2008, as the U.S. economy became undeniably weaker, Gingrich again proposed abolishing capital gains taxes, claiming that eliminating them “would cause the stocks held by two-thirds of the American people to soar in value.” But as Center for American Progress Action Fund Vice President for Economic Policy Michael Ettlinger pointed out, “there are, to say the least, flaws in this argument.”

[NC_Nurse]

1. WHAT capital gains? Has he been under a rock lately?

He's such an asshole.

[NorCalDem]

4. Exactly. I dont need a tax cut on capital gains!

WE'RE NOT GETTING ANY CAPITAL GAINS. THE MARKET IS TANKING!!


:D

[steelmania75]

2. Newt needs to go and give Dick Morris and Sean Hannity BJs...in a threesome

[Warpy]

3. I'd like to know who has capital gains to tax this year

and most of last year, too.

Newt's outta gas.

[underpants]

8. There are always people who have capital gains

The trust fund crowd. They always make money.

[Baikonour]

5. ROFL. The market is imploding..

And this douche wants a tax cut on capital gains. WHAT AN IDIOT.

[Avalux]

6. I hear some other puke talking about the capital gains tax. They really are morons.

They just make shit up, throw it at all wall and hope it will stick.

[Still Sensible]

7. I think he's just posing

sputtering out a circa 1994 republican meme. He wants the party to turn to him in 2012 and obviously believes the supply siders will be the ones that decide.