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Politics : THE WHITE HOUSE -- Ignore unavailable to you. Want to Upgrade?

To: pompsander who wrote (19640)	4/22/2008 8:08:11 AM
From: GROUND ZERO™	Respond to of 25737

He said it in a speech just about three days ago, it was in a news clip of that speech... GZ

To: pompsander who wrote (19640)	4/22/2008 11:38:40 AM
From: longnshort	Read Replies (1) \| Respond to of 25737

Taxing question Sen. Barack Obama says he will raise the 15 percent capital-gains tax on the sale of stocks or other assets if he becomes president, even though ABC News anchor Charlie Gibson told him in last week's debate that "history shows" government revenues fall when the tax is increased and rise when the tax is cut. "Well, that might happen, or it might not," the freshman senator replied, adding that he would raise it anyway, possibly closer to the previous 28 percent before President Clinton signed legislation cutting it to 20 percent. Why would Obama do that? Reporter Donald Lambro of The Washington Times asked Columbia University economist Glenn Hubbard about Obama's plan and the former chairman of President Bush's Council of Economic Advisors sent back this tart reply: "Raising capital [gains] taxes is bad at any time, particularly in a weak economy. The only argument for such a tax increase — since that argument can be neither economic efficiency or efficient revenue collection — would be a policy of [income] redistribution."