Turn on the television, or listen to the democrats and all you'll hear is "fairness" with respect to the tax code. According to our President and the current lame duck congress, we must return tax levels to where they were prior to 2001. "Tax cuts for the rich" is all the rage when liberals talk about the expiration of the Bush tax cuts.
Let's take a look at the results of raising capital gains taxes on the 'so called' wealthy.
Thomas Sowell writes an excellent column that appears in the Jewish World Review in which he reports on the results of raising, or lowering the capital gains tax rate. Click here for a full reading of that text.
Next, you'll want to see candidate Barack Obama's response to a question from Charles Gibson in a debate with Hillary Clinton concerning capital gains taxes. Any questions about the illogical position of the liberal democrats on tax increases and tax revenue? Keep dreaming that increasing taxes on the "rich" will lead to more revenue for our dear Uncle Sam.
Be fearful--VERY fearful for our future.