Clark-Koch Ticket Wanted to Repeal The “Windfall Profits” Tax On Oil Companies. According to Clark: “5. To increase domestic energy production and reduce consumer prices, Ed Clark will repeal the demagogic, misnamed, “windfall profits” tax. Not a profits tax at all, it is actually an excise tax on domestic oil productions and is more accurately referred to as the crude oil excise tax. Its passage could hardly be considered as part of an energy program; rather, it was a political scheme to get more revenue from the federal government while scoring some political points against the oil companies. A tax on any product usually results in reduced supply and higher prices. This is hardly a rational energy program. Consumers will benefit from the Clark administration’s repeal of the crude oil excise tax.” [Clark For President White Paper On Taxing And Spending Reduction, Page 11, 1980]

The Clark-Koch Ticket Proposed Halving Capital Gains Tax Rate. According to Clark For President White Paper On Taxing And Spending Reduction, Page 10, “This proposal will also cut the capital gains tax in half, a major step toward capital formation and economic growth. When the capital gains tax was increased a few years ago, receipts from the tax actually declined. People made fewer investments in areas subject to capital gains taxation. When the rate was later cut, tax receipts increased, and the U.S. savings rate went up. The rate reduction had a very positive impact on personal savings and investment, producing greater capital formation and economic growth.” [Clark For President White Paper On Taxing And Spending Reduction, Page 10, 1980]