The worst sectors of the worst recovery since World War II are business investment in new plants and equipment and new business start-ups. These are the biggest job creators, and their slump is a key reason for the sub-par labor recovery, with low participation rates and high involuntary part-time workers.
So if investment is the problem, what does Hillary Clinton go out and do? She proposes jacking up the tax on investment.
In her latest economic speech, Clinton proposes doubling the capital-gains tax rate on the profit made from asset sales (stocks, bonds, real estate) held a day less than one year up to two years. Right now, if you take a capital gain a day more than one year, you are taxed at a 20 percent rate. Actually, it's 23.8 percent when you include the health-care surtax. So under Clinton's brilliant new play, you'd be taxed at 43.4 percent — the top individual cap-gains rate of 39.6 percent plus the 3.8 percent Obamacare surtax.
:meltdown :mad :blowup :banghead :down :boo