Randy Yale's Blog
Stay in touch with our latest news, thoughts in issues and status of our campaign!
As I stated in my last entry, I find people/news/events almost every day that make me think I am doing the right things in my campaign. Again today, I read two items that indicated that my capital gains proposal is especially well-timed.
Jared Bernstein points to a Congressional Research Service study that indicates that the single most influential factor in rising inequality in the United States is capital income. Now I think, like I believe most Democrats do, that inequality has reached the point that it has become corrosive to our society and our democracy. Still, simply increasing taxes on people who have made sound investments isn't the answer. So I proposed something specific.
And an article by Adam Davidson in this week's New York Times Magazine confirmed that I was on the right track. In addressing the need for the United States to become more committed to research and development or risk losing more economic influence to China, Davidson argues: "... Congress can do other things, like shift incentives away from rampant short-termism. It could, for example, reduce capital-gains taxes on stocks held for many years."
Not all of my ideas will be this timely. However, I will continue to make proposals that I think are needed.