You may remember that during the April 16 Democratic presidential debate, Charles Gibson asserted that “in each instance, when the (capital gains tax) rate dropped, revenues from the tax increased. The government took in more money. And in the 1980s, when the tax was increased to 28 percent, the revenues went down.”
When asked why he would raise the capital gains tax rates knowing it would reduce tax revenues generated, Obama responded that it was a matter of “fairness.” (Source)
IMO, the man is clueless!
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