Here’s an interesting and revealing quote from Barack Obama during the presidential campaign last year:
After ABC’s Charlie Gibson noted that the record shows increased taxes on capital gains — which would affect 100 million Americans — would likely lead to a decrease in government revenues: “Well, Charlie, what I’ve said is that I would look at raising the capital gains tax for purposes of fairness.”
(Via Sense of Events.)
The President’s stated position is that favors higher taxes on investors, even when those taxes actually decrease revenues! The government should actually spend money just to hurt investors.
In what world is this a reasonable policy? It’s spite, pure and simple.