and some facts for you to chew on..from the Congressional Research Service Report of Congress Jan.2003..."Past capital gains tax rate cuts have increased revenue for the first 2 calander yearsafter the cuts yet lose revenue thereafter. In addition the amount of tax revenue decreases as the capital gains are taxed at a lower rate. Finally a capital gains tax cut induces stock sales which causes downward pressure on stock prices.
We can both find studies that support our side,but if everyone got a tax cut,the estate tax was lowered and there was a cut in the capital gains tax the federal gov't has less money.In itself that's O.K. However if we are fighting 2 wars and have the 3 large entitlement programs with less money to pay for them that's where the money is going.Should we cut all 3 of the largest programs? What do you think would happen? Should we cancel the next set of tax cuts until we get out of this mess or at least until we leave Afghanistan and Iraq?