Wednesday, July 09, 2008

McCain Wrong on Captial Gains Tax Cuts

"Every time we cut capital gains taxes, there has been an increase in revenues."

John McCain.

Captial gains taxes are taxes on stocks and other financial assets. Cutting captial gains taxes produces (in the short-term) loses in tax revenue. The chart shows 1997 and 2003 as years Congress passed captial gains cut. Neither year was peak years for tax revenue. I like to know where the Maverick gets his information. Ex-football player Jack Kemp?

Labels: ,


Post a Comment

Subscribe to Post Comments [Atom]

Links to this post:

Create a Link

<< Home