pbrauer
DP Veteran
- Joined
- Jun 6, 2010
- Messages
- 25,394
- Reaction score
- 7,208
- Location
- Oregon
- Gender
- Male
- Political Leaning
- Liberal
Charlie Gibson didn't know what he was talking about. Sure, if a Capital gains tax is lowered, the owner of the asset will wait until he can take advantage of the lower rate. So, in the current year revenue will be lower and the following year the revenue will rise. But long term you have less revenue with the lower rate. It's a math problem.candidate obama would raise taxes even if they DON'T yield revenue
charlie gibson (the guy who got the gotcha girl, palin): "in each instance when the rate was dropped the revenue from the tax increased, the govt took in more money, and in the 1980's when the tax was increased to 28% the revenues went down"
obama: "well, charlie, what i've said is i would look at raising the capital gains tax for purposes of fairness, we saw an article today which showed that the top 50 hedge fund managers made 29 billion dollars last year, 29 billion dollars for 50 individuals, and part of what has happened is that those who are able to work the stock market and amass huge fortunes on capital gains are paying a lower tax rate than their secretaries, that's not fair"
charlie: "but history shows when you drop the capital gains tax the revenues go up"
obama: "that might happen or it might not"
FLASHBACK: Obama Says Raising Taxes Not About Revenue But About Fairness - Katie Pavlich
hey, raise the rates---revenues MIGHT go up
LOL!
know who you're dealing with