Capital Gains — Political Losses


 

In 1996, the Los Angeles Times called me a “P.R. Guru” and whether it was true or not, the accusation took on a life of its own and people began to believe it.  Whatever one believes to be true becomes binding upon them and determines the outcome of their behavior.  So since then I’ve had a decent track record at promoting causes that nobody else would touch or even conceive of as being promotable.

If there’s one thing I can’t stand it’s when a client or an organization that I’m promoting misses an opportunity for publicity when an “I told you so” moment arrives.  Although it’s been decades since the California Peace & Freedom Party allowed me any official role in public relations, I almost wish that I was on speaking terms with the leadership (of my own party) so that I could nudge them into jumping on an obvious P.R. offensive that could help to convince the public that the party is still relevant.  One of its key early issues has all of a sudden become the subject of major national debate and yet the party leadership and its candidates aren’t saying anything about it.

Ambrose Bierce once defined that “Radicalism is the conservativism of tomorrow, injected into the affairs of today.”  In 1971-72, the California Peace & Freedom Party (PFP) launched an initiative petition drive under the leadership of the San Jose Eugene V. Debs PFP Club to tax capital gains at the same rate as ordinary income.  At the time this was both a radical and a rational program of tax reform.

The ethical and moral implications of the differential between capital gains taxation — i.e., the tax on profits from stock, real estate, bonds, etc. — as opposed to the income one derives from working for a living is basic fairness.  Why should somebody who invests for a living get a tax break while somebody who works for a living does not?  The usual answer is that the lower tax rate is justified by the need to encourage investment to produce jobs, a trickle down philosophy.

So, at the risk of criticizing a simplified straw man argument, let me get this straight:  if you don’t give somebody a tax incentive to invest money they won’t invest it?  What do you think they’re going to do?  Get a job?

I was the Los Angeles County coordinator for the PFP initiative to reform the capital gains law in California.  I solicited and received endorsements for the proposal from the Los Angeles Democratic Club, UAW Local 645 and a lot of other mainstream organizations that recognized the simple fairness message of the proposal. Still in 1971-72, this was considered a radical notion, that people who earn the same amount of income should be taxed at the same rate regardless of whether they are a worker or a capitalist.

 

About Jan Tucker

The Detectives Diary is an innovative tool combining Private Investigation and Journalism. In 1984, Steve Harvey's Los Angeles Times "Around the Southland" Column entitled Jan Tucker's program of providing low-cost "Opposition Research" services to indigent and working class candidates for public office, "Take Cover: Hired Mudslinger Rides into Town." A 1996 Los Angeles Times article by Henry Chu carried a sub-headline identifying Tucker as a "P.R. Guru." In November 2012, Tucker became Criminal Justice Columnist for Counter Punch Magazine and a commentator for Black Talk Radio. As a private investigator since 1979 and a former First Vice President of Newspaper Guild Local 69, Tucker takes these skills to a new level in the pages of the Detectives Diary with insightful and unique exposures and analysis of history and current events. State Director--California League of Latinos And Chicanos, Former seven term Chairman of the Board of the California Association of Licensed Investigators, Co-President San Fernando Valley/Northeast Los Angeles Chapter-National Organization for Women, former National Commissioner for Civil Rights-League of United Latin American Citizens, former Second Vice President-Inglewood-South Bay Branch-National Association for the Advancement of Colored People, former founding Vice President-Armenian American Action Committee, former First Vice President, Newspaper Guild Local 69 (AFL-CIO, CLC, CWA), Board member, Alameda Corridor Jobs Coalition, Community Advisory Board member--USC-Keck School of Medicine Alzheimer's Disease Research Project
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