Miwaukee Journal Sentinel, 11.15.08
More damaging to the already battered economy would be higher taxes on investment, namely higher
rates on dividends and capital gains. Hopefully, Obama will listen to his post-campaign advisers and
back off on that piece of his populist rhetoric. What the economy needs most right now is more jobs, and new businesses are the main source of job
creation.
Investors will be less likely to put their money into new ventures if tax rates discourage wealth creation.
The better course is to stimulate new ventures, to provide additional investment credits for those willing
to take the high risk of investing in a start-up company.
Wisconsin, under Gov. Jim Doyle, passed Act 255, which gives investment tax credits of 25% to angel
and venture investors. A coalition of business and job creators in Wisconsin is pushing to expand that
program.
That direction is the right way to go in the new economy. Obama should take a page from Doyle's
playbook.
More damaging to the already battered economy would be higher taxes on investment, namely higher
rates on dividends and capital gains. Hopefully, Obama will listen to his post-campaign advisers and
back off on that piece of his populist rhetoric. What the economy needs most right now is more jobs, and new businesses are the main source of job
creation.
Investors will be less likely to put their money into new ventures if tax rates discourage wealth creation.
The better course is to stimulate new ventures, to provide additional investment credits for those willing
to take the high risk of investing in a start-up company.
Wisconsin, under Gov. Jim Doyle, passed Act 255, which gives investment tax credits of 25% to angel
and venture investors. A coalition of business and job creators in Wisconsin is pushing to expand that
program.
That direction is the right way to go in the new economy. Obama should take a page from Doyle's
playbook.