Increasing the Capital Gains Tax
Filed under
Resurgent Republic Blog
posted
July 26, 2010
The federal deficit is projected to be $1.47 trillion and $1.42 trillion over the next two years respectively, both higher than last year's record deficit. According to Resurgent Republic's new survey, voters believe reckless government spending is the primary culprit, even as the economic recovery continues to lag and “lower tax receipts, primarily from capital gains taxes, raised deficit projections for 2011 and 2012.” Yet by a 56 to 41 percent margin, Democrats favor increasing the capital gains tax rate from 15 to 20 percent.