Submitted by Ethan David Cohen, Sep 4, 2008 21:38

What appears to be missing from this argument is empirical data demonstrating a strong correlation between reduced capitol gains tax and economic growth. While the last eight years may have been great for the wealthy, the country has not seen an economic boom elicited by the Bush tax cuts. On the contrary, while the stock market has done well, the country is experiencing increasing levels of unemployment and a fall in average adjusted income. At the end of the day, only the very wealthy make most of their money from capital investments. Therefore, just as you and I have to go to work every day to make a living, the wealthy have to keep investing their money in order to expand their wealth and will continue to invest regardless of tax rates. However, if you reduce income taxes on the lower and middle class, they will spend the money and contribute to economic growth. This idea must be widely accepted since the current administration has twice mailed out tax rebate checks in an attempt to fix a failing economy.

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