Discussion and information on selected policy issues concerning tax, foreign relations, energy and other significant policies. The intent is to provide data and analysis that will assist in determining the appropriateness of the policy. Any posts containing rants, personal attacks on officials or other posters or which do not concisely present a point of information will not be published.
Congress significantly reduced the long term capital gains tax rate in May 2003. The Democrats voted against the legislation claiming that 60% of the benefit would accrue to the wealthy. The Republicans supported the legislation claiming that 60% of taxpayers would benefit, that people who earn the money should be able to keep the money and that the change would stimulate the economy.
Was this good policy and what are the facts?