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Politics : Err America: They Report, They Decide -- Ignore unavailable to you. Want to Upgrade?

To: TopCat who wrote (397)	5/19/2006 6:38:12 PM
From: American Spirit	Read Replies (1) \| Respond to of 1513

Bush reduced capital gains taxes down to zero for some people, but yes, he has not eliminated them, I know. I should have stated this. But it was not a lie, just an exaggeration as some people do have no CG taxes under Bush. "In 2003, Bush promoted the tax bill that reduced the tax on long-term capital gains, those held for more than one year, from 20% to 15% for those in the higher tax brackets and from 10% to 5% for those in the lower brackets. In 2008, the 5% rate drops to 0%, and in 2009, all capital gains rates revert to their pre-2003 levels unless new legislation is passed. " Now he wants to make these tax cuts permanent. This shows that Dick Cheney saved approximately $500,000 per year on Bush's capital gains tax reduction, yet the average American gets little or not benefit at all. democrats.reform.house.gov;