06 November, 2021

I Have a Lot of Problems With Mitt Romney. His Business Sense Is Not One of Them.

Mitt Romney Blasts Democrat Proposals on Fox News – PJ Media

Say what you will about Sen. Mitt Romney, but when he comes to play, he’s strong and informed– especially on fiscal matters.

He demolished then-President Barack Obama in their first 2012 debate, and Monday night on Fox News, Romney took Democrats’ current economic plans to task.

“Well, first of all, it’s not a good idea to tell billionaires, don’t come to America, don’t start your business here, to tell the Steve Jobs and the Bill Gates and people like that, this isn’t the place to begin your business, go somewhere else. That’s a bad idea,” the Utah Republican explained to Bret Baier. “But, number two, you’re going to tax people, not when they sell something, but just when they own it and the value goes up. And what that means is that people are, these multi-billionaires, are going to look and say, I don’t want to invest in the stock market, because, as that goes up, I’m going to get taxed.”

An even better point, that I had not yet made.

Taxing unrealized capital gains will shut down investment in the stock market. Which will bring economic growth to a grinding halt.

A lot of Democrat plans seem to have that side effect. It’s almost as if it’s intentional.

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