Kerry would also punish risk-takers by increasing the capital gains levy and would reduce the supply of capital by rescinding President Bush's dividend tax reductions.
British Prime Minister Tony Blair, a supposed Clinton clone, is also lightening the burden of his country's capital gains levy.
He pushed the still-radical idea of massive, across-the-board cuts in personal income tax rates, as well as in the capital gains levy.
The corporate tax rate would be whacked from 35% to 25%, and the capital gains levy would be reduced by a third to 10%.
The Republican cuts have several positive features, including savings incentives, a lowering of the capital gains levy and a reduction in the marriage penalty.
In 1978, for example, a then very small, very young high-tech industry spearheaded a drive to slash the capital gains levy and, miraculously, achieved success.
" He also plumped for cutting the capital gains levy, understanding a fact missed by many economists, Potomac pols and pundits: "We are in a slump because venture capital fell 74% the past year.
He wants to get rid of the death tax, and he certainly would be more open than Gore would be to reducing the capital gains levy--and ultimately scrapping this incomprehensible, politically polluting tax code.
When Congress increased the capital gains tax levy in 1986, the so-called experts at the Joint Committee on Taxation estimated that this tax increase would increase capital gains revenues.
Mr. Obama is reproposing the "Buffett tax" on millionaires that would raise the levy on capital gains, dividends and other investment income to 30%.
The 15% levy on capital gains and dividends to individuals is thus a double tax that takes the overall rate on that corporate income closer to 45%.
Reduce the levy on dividends and capital gains from 15% to 10% and you'd see a sharp boost in equity markets, as well as in consumer and business confidence.
As with the capital-gains tax, the new levy doesn't apply to assets held at death.
Tim Levy, director of Future Capital Partners, a firm specialising in film investment schemes, admitted that over half of the firm's 255 investments had subsequently been investigated by HMRC.
With property prices starting to soar, the government last month stepped up its controls of the real estate market, vowing to levy a 20 per cent capital gains tax to thwart speculators.
Under the 2010 health law, high-income households will pay an additional 0.9 percent Medicare payroll tax and a new 3.8 percent levy on investment income such as capital gains and dividends.
FORBES: Taxes and Paul Ryan's Budget: What's Clear, And What Isn't
"If the business case is to make the mall a better mall, that's a hard case to make today, " said Spencer Levy, executive managing director of capital markets for CBRE Group Inc.
It is believed that eurozone leaders, particularly in Germany, insisted on the levy because of the large amount of Russian capital kept in Cypriot banks, amid fears of money-laundering.
BBC: Cyprus leader Nicos Anastasiades 'fights EU on bailout'
Reports have suggested that eurozone leaders, particularly in Germany, insisted on the levy because of the large amount of Russian capital kept in Cypriot banks, amid fears of money-laundering.
Even as the global economy recovers, its imperatives are making it harder for countries to levy taxes as they would like, particularly on capital.
This levy is collected on revenues minus purchases from other businesses and any outlays for capital investments.
If the levy on bank accounts is approved, it would reduce spending power and likely deter capital inflows.
From April, Tokyo's city government plans to levy a 2-3% tax on the operating profits of big banks based in the capital.
These are to be repaid with interest through a levy on sales, but the governments share some of the commercial risk, so Airbus is getting capital more cheaply than it might on the open market.
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