NATION : Tax Cut Aids Rich, Report Says
From Times Wire Services
WASHINGTON —
The lion’s share of benefits from cutting capital gains taxes would go to people who report gains year after year, not those whose incomes are boosted once in a lifetime by the sale of a family farm or business, congressional analysts said today.
The new report from the staff of the Joint Committee on Taxation rebuts a key Bush Administration argument for the reduction and provides new evidence for Democrats who view a capital gains cut as a windfall for the rich.
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