Capital Gains Tax

When Barack Obama talks taxes clearly does not understand them. Not surprising for community organzier. Heres why. Assuming his goal of raising the capital gains tax is to pay for his socialism he will do the exact opposite of what he wants to. The three times in history that taxes were raised where in 1981, 1997, and 2003. In the years following the revenue from those taxes soared 49%, 49%, and 88% respectively. The only time when the rate was raised, revenues decreased 44%. So how does Obama think raisng the tax from 15% to 28% think that he will get more money. Since 52% of americans own stock 52%, not the top 1% like he says, they will get a tax hike.

"Fleeced" by Dick Morris