West Hartford, Conn., August 16, 2010 – No school of economics favors raising taxes in a recession, but at the end of this year, Washington will allow the top capital gains rate to rise from 15% to 20%, which will drive capital offshore and cost jobs. According to the Congressional Budget Office, the last time the capital gains tax rate increased (1987), capital gains tax collections fell by 54% in the first five years and took a full decade to recover. Does Richard Blumenthal support allowing the capital gains tax to rise?
Linda McMahon believes we need to stop the capital gains tax from increasing. Her stance against hiking the capital gains tax has been a matter of public record for months and is central to her plan to put people back to work.
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For more information, contact the Linda McMahon for Senate Press Office, 860-244-2010. |
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