Wednesday, October 15, 2008
Greed You Can Believe In, My Friends
The Tax Policy Center, a non-profit organization, points out that two-thirds of McAngry's capital gains tax cuts would benefit millionaires. Two-thirds. Well, yes, they are in McAngry's base, but it seems idiotic to propose during a time when the MIDDLE CLASS is hurting for relief. It would also provide an incentive for rich investors to cash in their investments to take advantage of the lower capital gains tax rates, thereby taking capital out of the market when the market needs capital. Here's hoping this comes up at tonight's debate, and that McAngry tries to defend it.