Capital Gains Cut

yglesias.thinkprogress.org - 10/14/2008

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I understand that conservatives take the view that cutting capital gains tax rates will produce substantial long-term growth benefits. Consequently, whatever the question, conservatives think the answer is cutting the capital gains tax. Still, it’s crucial to recognize what a lousy ...

politicalticker.blogs.cnn.com - 10/15/2008

CNN POLL: Obama making gains in red states

— politicalticker.blogs.cnn.com — Obama is making gains in several states President Bush won twice. HEMPSTEAD, New York (CNN) – As the two major party presidential candidates get ready to face off in person one last time, new polls in some crucial states that could decide the ... (more) CNN POLL: Obama making gains in red states

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wonkroom.thinkprogress.org - 10/14/2008

Most Capital Gains Flow To Millionaires

— wonkroom.thinkprogress.org — Our guest blogger is James Kvaa l, Domestic Policy Advisor at the Center for American Progress Action Fund. mccain2.JPG Jack Kemp – once Bob Dole’s running mate and now a top economic advisor to John McCain – defends McCain for supporting the capital ... (more) Most Capital Gains Flow To Millionaires

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wonkroom.thinkprogress.org - 10/20/2008

The McCains Would Receive $55,000 A Year In Tax Breaks From McCain’s Capital Gains Proposal

— wonkroom.thinkprogress.org — Our guest blogger is Michael Ettlinger , Vice President for Economic Policy at the Center for American Progress Action Fund. On Friday, the McCain campaign released Cindy McCain’s 2007 tax returns . Sadly for the McCains, Mrs. McCain shows over ... (more) The McCains Would Receive $55,000 A Year In Tax Breaks ...

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Blog Reactions

Political Animal: McCain's economic do-over

Wonk Room: Two-Thirds Of The Benefits From McCain’s New Tax Cut Go To Millionaires

Think Progress: Two-Thirds Of The Benefit From McCain’s New Tax Cut Goes To Millionaires

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McCain's economic do-over
Political Animal — ... that primarily helps millionaires, and a capital gains tax cut that, as a practical matter, is " a lousy stimulus ." Is this really supposed to improve McCain's footing on economic issues? It seems unlikely to have any real impact.— ...

Two-Thirds Of The Benefits From McCain’s New Tax Cut Go To Millionaires
Wonk Room — ... under the current 15% rate, 93.9% of the benefits go to the top 5% of taxpayers, and 84.8% to the 1%. The other 80% of taxpayers see only 1.7% of the benefits of today’s rate. The McCain campaign claims that the cut will “strengthen incentives to save, invest, and restore the liquidity of markets.” But given the current economic situation - one in which “people do not have an awful lot of capital gains” - this measure will do nothing to stimulate the economy. Furthermore, The Street noted that McCain’s cut ...

Two-Thirds Of The Benefit From McCain’s New Tax Cut Goes To Millionaires
Think Progress — ... under the current 15% rate, 93.9% of the benefits go to the top 5% of taxpayers, and 84.8% to the 1%. The other 80% of taxpayers see only 1.7% of the benefits of today’s rate. The McCain campaign claims that the cut will “strengthen incentives to save, invest, and restore the liquidity of markets.” But given the current economic situation - one in which “people do not have an awful lot of capital gains” - this measure will do nothing to stimulate the economy. Furthermore, The Street noted that McCain’s cut ...