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Article: Cutting the capital gains tax will benefit the middle class.(Commentary)(Editorials)(Letters)
- Article from:
- The Washington Times (Washington, DC)
- Article date:
- June 18, 1997
CopyrightCOPYRIGHT 1997 News World Communications, Inc. 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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Bruce Bartlett is right on track in his support of the capital gains tax cut proposed by Rep. Bill Archer, chairman of the House Ways and Means Committee ("Predictable assault on tax cut proposal," June 16). Mr. Archer's success will be based on whether or not the discussion about reducing the capital gains tax from 28 percent to 20 percent focuses on facts rather than class warfare rhetoric.
According to Allen Sinai, chief economist of Lehman Bros., cutting the capital gains tax by 50 percent would increase the gross domestic product by 0.7 percent per year, which amounts to $40 billion. The current proposal to reduce taxes on capital gains is not as ...