Tag Archives: self-benefit

Fleischmann: Self-benefit ‘Doesn’t Enter My Mind’

U.S. Rep. Chuck Fleischmann proposed a two-year moratorium on capital gains taxes this week, leveraging a key point of his jobs plan and suggesting an idea that would benefit him personally, reports the Chattanooga TFP.
The government now charges individuals and corporations varying rates of tax on most capital gains, which are commonly obtained from the sale of stocks, bonds and property. If the House and Senate adopt his idea, the Chattanooga Republican said, the savings will be invested in people, not “buried in the backyard.”
“Once you get that capital in the game, it results in more jobs,” he said Friday in a telephone interview. “This allows average Americans — all Americans — to go out and take a risk with their capital.”
Fleischmann is one of those Americans. According to House financial disclosures filed last spring, the attorney and freshman congressman reported an investment valued between $500,001 and $1 million that included capital gains income. Records show the investment returned a profit between $15,001 and $50,000 last year.
“It’s a very fair question, but I have never thought of my own financial situation one time in any of the 830 votes I’ve ever cast,” he said. “It just doesn’t enter my mind.”