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Article: Lower the capital gains levy and boost tax revenues.(Originated from Knight-Ridder/Tribune News Service)
- Article from:
- Knight Ridder/Tribune News Service
- Article date:
- December 15, 1995
CopyrightCOPYRIGHT 1995 Knight-Ridder/Tribune News Service. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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KRT FORUM
By Gerald P. O'Driscoll Jr.
WASHINGTON _ Truth is the first casualty in partisan budget wars.
A cut in capital gains tax rates is being painted as a tax cut benefiting the rich at the expense of average Americans. The reality is more nearly the opposite.
In a recent and important study, Stephen Moore and John Silvia of the Cato Institute provide a dispassionate analysis of the major issues. (Cato is a Washington-based, market-oriented think tank.)
First, on who pays the capital gains tax: In 1992, 56 percent of all returns reporting capital gains were from households with incomes below $50,000. Eighty-three percent were from ...