During the April 16 Democratic presidential debate, co-moderator and ABC World News anchor Charles Gibson asserted of capital-gains tax cuts that "in each instance, when the rate dropped, revenues from the tax increased. The government took in more money. And in the 1980s, when the tax was increased to 28 percent, the revenues went down." Gibson later asserted that "history shows that when you drop the capital-gains tax, the revenues go up." In fact, Dean Baker, co-director of the Center for Economic and Policy Research, asserted in an April 17 American Prospect blog post addressing Gibson's statements: "[T]he evidence that a capital gains tax cut raises revenue is rather dubious, since most of the apparent increase is likely due to timing: investors delay selling stock when they know a tax cut is imminent. After the cut takes effect, they then declare their gains and pay taxes at the lower rate." Indeed, a Congressional Budget Office (CBO) Revenue and Tax Policy Brief states that "[r]ising gains receipts in response to a rate cut are most likely to occur in the short run" and that investor responses to capital-gains tax cuts in the short term can "mislead observers."

RLCC Comment: Wasn't this common knowledge? Charles Gibson didn't know that? He's a mouth for trickle-down economics that isn't even real.

You know, in the giving-and-sharing-all economy of Jesus and God, there are no taxes. There are no taxes in Heaven. There is no money in Heaven. Let's bring forth Heaven on Earth.

You know who's against doing that? Satan. Satan is the selfish spirit, the greedy one. He ends up in the proverbial Lake of Fire. That's because the people wake up and become unselfish.

Link to source-webpage, obtained via: Media Matters for America, April 18, 2008, 6:41pm

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  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
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