The way to bring in capital and jump start main street
We need private capital
This will require very few words.
To bring in capital, eliminate all capital gains taxes for stock purchases over the next 24 months.
To help main street, the following tax incentives put in place
a. Make all meals for business purposes tax deductible at 100%b. Allow a 10% Investment tax credit for all business purchases of NEW durable goods.c. Allow a 10% Investment tax credit for the purchase of a new motor vehicle.
The effect of these 4 simple changes into the tax code will get people interested in our capital markets again. With plummeting stock prices, the Fed isn’t realizing Gains Taxes anyway, so this won’t “cost” anything.
The Tax Credits for big ticket purchases and 100% deductibility for meals will get people motivated to spend money. It’s really that simple !