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Six Reasons Why the Capital Gains Tax Should Be Abolished

Tuesday, 4 May 2010 | 11:01 AM ET

Here's my friend Dan Mitchell's latest video. As usual, it's definitely worth watching.

According to Dan: The correct capital gains tax rate is zero because there should be no double taxation of income that is saved and invested.

This is why all pro-growth tax reform plans, such as the flat tax and national sales tax, eliminate the capital gains tax.

Unfortunately, the President wants to boost the official capital gains tax rate to 20 percent, and that is in addition to the higher tax rate on capital gains included in the government-run healthcare legislation.

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  • Lawrence Kudlow is a CNBC senior contributor. Previously, Kudlow was anchor of CNBC's prime-time program "The Kudlow Report"