Walter B. Jones: “the liberals often refer to a reduction in the capital gains tax as a ``tax cut for the wealthy.'' This is simply not…”

“the liberals often refer to a reduction in the capital gains tax as a ``tax cut for the wealthy.'' This is simply not the case. I know of a large number of farmers, senior citizens, and middle-income families in my district who would greatly benefit from a reduction in the capital gains tax. I think my constituents would be extremely disappointed to hear that the liberals in Washington have declared them wealthy. My constituents are good, hard-working Americans, who do the best they can to make ends meet, especially when they have to send so many of their dollars to Washington to pay for big government. The taxpayer should not be penalized for selling a farm or a home or for being among the 43 percent of adult Americans who own stock. A reduction in the capital gains tax rate means real relief for real, hard-working Americans.”