George H.W. Bush: “I don't think so at all. There was a thing called the Steiger amendment in 1978, where capital gains rates were reduced.…”

“I don't think so at all. There was a thing called the Steiger amendment in 1978, where capital gains rates were reduced. And it resulted in a splurge of new businesses being started. I realize that if you are just trying to get some facts out there, all you hear from the Democrats is that that helps the rich. It is small business that benefits from that. It is small businesses that get started from a capital gains reduction, particularly in the science and electronic fields. So I would say it isn't just rich people that benefit at all. And it's going to stimulate the economy. So for those who think it's a break for the rich, I just disagree with them. And I've got evidence on my side through when Bill Steiger of Wisconsin got it passed in '78, it gave a real surge to the economy. Moderator. President Bush, we thank you. And in a moment we're going to be back to talk about other issues that are obviously of great concern to people around the State of Michigan. One of those, perhaps ranking right up there with the jobs situation, at least for people in the city of Detroit, is the issue of crime. And we'll have a question on that subject when we return. [At this point, the television station took a commercial break.] Urban Policy”