Ignoring history, Obama falsely claims that raising the capital gains tax yields higher tax revenue

The Washington Times recently reported:

Obama’s State of the Union speech to include $320B tax hike proposal

President wants capital gains rate, bank fees raised

President Obama will propose $320 billion in higher taxes in his State of the Union address, mostly by raising the rate on capital gains and closing tax loopholes for wealthier families, senior administration officials said Saturday.

Previewing Mr. Obama’s State of the Union address to Congress on Tuesday night, aides said the president will propose raising the top tax rate on capital gains to 28 percent, from the current 23.8 percent (20 percent, plus a 3.8 percent tax on unearned income to fund Obamacare) for individual taxpayers with an adjusted gross income of $200,000 or more.

Obama is ignoring the fact that in the real world, raising the capital gains tax in the past has resulted in lower tax revenues.
(more…)

January 24, 2015. Tags: , , , , , , , , , , , , , , , , . Barack Obama, Economics, Politics. 4 comments.

U.S. House passes Buffett Rule Act, which would allow rich liberals to voluntarily pay higher taxes

The Washington Times reports:
(more…)

September 19, 2012. Tags: , , , , , , , , , , , , . Politics. 1 comment.

Comments from someone who is an Occupier, progressive, labor leader, and communist

This guy’s tone of voice and calm demeanor make him sound like he could be a trusted teacher, friend, or relative. I think if I knew him in real life, we could be friends, and enjoy each other’s company. He certainly seems well intentioned.
(more…)

August 22, 2012. Tags: , , , , , , , , , , , . Politics. Leave a comment.