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Article: PRESIDENT, DEMOCRATS OFFER CAPITAL-GAINS TAX CUT, BUT WITH A CATCH

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Post-Tribune (IN)
Article date:
May 15, 1993
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THIS ELECTRONIC VERSION MAY DIFFER SLIGHTLY FROM THE PRINTED VERSION. GOVERNMENT

President Clinton and congressional Democrats are offering high-income investors something they couldn't get from President Bush: a sizable capital- gains tax break. But there's a big catch. Bush proposed to attract investors by cutting the capital-gains rate while holding steady the rate on wages and other ordinary income. Clinton's deficit- reduction bill would freeze the top capital-gains rate at 28 percent and boost the tax on other income as high as 43 percent, creating a differential of up to 15 percentage points in favor of capital gains.

Capital-gains backers are less than enthusiastic about that idea, ...

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