{"id":196520,"date":"2008-04-18T05:15:00","date_gmt":"2008-04-18T10:15:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/18\/capital-gains-tax-bullsh-deconstructed\/"},"modified":"2008-04-18T05:15:00","modified_gmt":"2008-04-18T10:15:00","slug":"capital-gains-tax-bullsh-deconstructed","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/18\/capital-gains-tax-bullsh-deconstructed\/","title":{"rendered":"Capital Gains Tax Bullsh$# Deconstructed"},"content":{"rendered":"<p>Well, it appears that at the debates, Charlie Gibson echoed the latest right wing talking point\/lie, that <a href=\"http:\/\/www.prospect.org\/csnc\/blogs\/beat_the_press_archive?month=04&amp;year=2008&amp;base_name=the_capital_gains_tax_its_even\">recent cuts in the capital gains tax rate have increased revenues, and that tax increases cut revenues<\/a>.  (I must have missed this because I found the debates <a href=\"http:\/\/40yrs.blogspot.com\/2008\/04\/debates.html\">too painful to watch<\/a>).<\/p>\n<p>This, along with the assertion that people making $200,000\/year (the top 3%) are somehow middle class show why one should not put innumerate idiots in positions of authority in journalism.<\/p>\n<p>Saying that tax cuts in capital gains increase revenue is like saying that running a year long sale in a store will increase profits.<\/p>\n<p>What does happen is that one the eve of a change in the capital gains tax, you have accelerated (in the case of a future tax increase) or deferred (in the case of a future tax cut) profit taking.  This is a one time per tax change effect.<\/p>\n<p>It&#8217;s exactly like a store sale.  It produces a temporary effect, and any attempt to use it to guide long term fiscal policy is dishonest.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, it appears that at the debates, Charlie Gibson echoed the latest right wing talking point\/lie, that recent cuts in the capital gains tax rate have increased revenues, and that tax increases cut revenues. (I must have missed this because I found the debates too painful to watch). This, along with the assertion that people &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[974,1051,983,979],"tags":[],"class_list":["post-196520","post","type-post","status-publish","format-standard","hentry","category-hack-journalism","category-hypocrisy","category-taxes","category-wanker"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196520"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=196520"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196520\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=196520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=196520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=196520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}