Office For Economic Cooperation And Development

Bill Clinton Reveals Something Not Generally Known: Only Chile And Mexico Among OECD Nations Taxes Capital Gains Lower Than US!

OECD, the Organization For Economic Cooperation And Development, consists of 34 nations, that promote democracy and the market economy, and consists of nations in Europe, Latin America, Asia, the Middle East, and Canada and Australia and New Zealand.

Their goal is to promote economic growth, and they hold regular meetings of delegations to accomplish that goal.

But former President Bill Clinton, arguing today at the Clinton Global Initiative in New York City, made the point in interviews, that wealthy people in America are indeed very privileged, and his wife, Secretary of State Hillary Clinton, also made that point in a speech.

The reason for both Clintons stating this is the statistic on Capital Gains on the wealthy, and the stunning reality that our 15 percent Capital Gains tax on investments in this nation, brought about by Republican action in Congress in the past decade, and helping to cause the budget crisis we face now, is the THIRD lowest of all the 34 nations in OECD, with only Chile and Mexico being lower!

So wealthy people are getting a real advantage on capital gains, as for instance Mitt Romney has had in the past decade, but also with income tax cuts for the wealthy in the past ten years, one could say that the wealthy are “making out like bandits”, as the saying goes, which is much too accurate!