« Further Evidence That Moonbattery Is Bad For You | Main | Troops Plead For Respite From Congressional Moonbattery »

March 2, 2007

Shrillary Might Understand Basic Economics

Posted by Dave Blount at March 2, 2007 12:16 PM

Yesterday on CNBC Shrillary Clinton blamed a recent 8% slide in the Shanghai stock market on "rumors of a capital gains tax." Sure enough, capital gains taxes lower the value of stocks. The stock market took off in 1997 after her husband B.J. teamed up with Newt Gingrich to lower the tax from 28% to 20%. It took off again when W lowered the tax to 15% in 2003. Would President Shrillary help out our economy by lowering the tax further still?

Don't count on it. Shrillary voted against the 2003 reduction. As the New York Sun points out, her own reasoning suggests that her election could cause a stock slide by creating rumors that rates will go up again.