Nominations of N. Gregory Mankiw, Steven B. Nesmith, Jose F. Teran, James Broaddus, Paul D. Pate, Lane Carson

Original publisher: Washington : U.S. G.P.O. : For sale by the Supt. of Docs., U.S. G.P.O., 2004. LC Number: KF26 .B39 2003l OCLC Number: (OCoLC)56725477 Excerpt: ... 11 but it is going to be a permanent feature of tax policy, as I cer-tainly would think it should be, then that should affect the value of the stock market, which in turn should affect households ' wealth and businesses ' cost of capital. ORZINE Senator C. Thank you, Mr. Chairman. Chairman S. Senator Carper. HELBY STATEMENT OF SENATOR THOMAS R. CARPER Senator C. Thanks, Mr. Chairman. ARPER Dr. Mankiw - have I correctly pronounced your name? Dr. M. That is correct. It rhymes with ' ' thank you. ' ' ANKIW [ Laughter. ] ARPER Senator C. Thanks for joining us today. Thanks for your willingness to serve our country in this capacity. Are members of your family here? ANKIW Dr. M. Yes. My wife is right here, as is my daughter, Cath-erine, who is 11 years old. Senator C. Catherine, welcome aboard. Thank you for shar-ARPER ing your dad, and Ms. Mankiw, thank you for sharing your hus-band with us. I missed those introductions. I am sure they were made earlier. A couple of months ago Chairman Greenspan sat in your seat and he talked a bit about double taxation of dividends, which he thinks is a bad thing, and he called for eliminating them. He also called for doing it in a way that did not exacerbate our long-term budget deficit. He talked about maybe instead of doing it on the individual income taxpayer's side, to think about doing it, making the change on the corporate side, much as we allow cor-porations to expense debt, to consider possibly letting them expense their dividend payments. I have been floating an idea in the last couple of weeks with peo-ple who are a lot smarter than me, to ask them to react to this no-tion. Let me just ask you to do the same as well. We have seen some who have suggested that what we do is we phase out over 3 years the taxation on dividend income, and then it comes right ba...