Cesar Conda, a FreedomWorks fellow, has a great article up on National Review.Ã‚Â He talks about the 2003 capital-gains tax cut, dividend tax reduction, and how the GOP has failed to portray the message of a booming economy to the voters.
By increasing after-tax rewards for saving and investing, the 2003 tax-rate cuts worked precisely as advertised. Since May 2003, the U.S. economy has expanded by a quarterly average of 3.7 percent (annualized) and has added 6.6 million new jobs. As of the close of the markets on Monday this week, a total of $5.7 trillion in new shareholder wealth has been created since the tax-cut agreement was reached on May 20, 2003. Total dividend and share repurchases increased an astonishing 123 percent to over $600 billion for the 12-month period ended in June. Total household net worth is up $14.4 trillion, or 37 percent, since the tax cut.
Just one more example of how tax cuts benefit every American and keep the U.S. economy growing.
You can find the article HERE
Visit FreedomWorks’s tax page HERE