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Congress Discovers Ethics
futureofcapitalism.com

A lot of my friends on the right are delighting in the spectacle of Rep. Charles Rangel and Rep. Maxine Waters both heading for trials before the House Ethics Committee, but I have to say I find the whole thing misguided. And it's not just that I have a soft spot for Mr. Rangel going back ten years, to the 2000 interview with Businessweek (cited in this New York Sun editorial), in which Mr. Rangel was asked if he would support a cut in the capital gains tax. "I have no problem reducing the tax burden for people who take risks," he replied at the time. Jude Wanniski reported in 1997 that on the capital gains tax, "Charlie has been telling me for years that he favors indexation," that is, the idea that the capital gains tax should apply to only real, after-inflation gains.

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Congress Discovers Ethics
futureofcapitalism.com

A lot of my friends on the right are delighting in the spectacle of Rep. Charles Rangel and Rep. Maxine Waters both heading for trials before the House Ethics Committee, but I have to say I find the whole thing misguided. And it's not just that I have a soft spot for Mr. Rangel going back ten years, to the 2000 interview with Businessweek (cited in this New York Sun editorial), in which Mr. Rangel was asked if he would support a cut in the capital gains tax. "I have no problem reducing the tax burden for people who take risks," he replied at the time. Jude Wanniski reported in 1997 that on the capital gains tax, "Charlie has been telling me for years that he favors indexation," that is, the idea that the capital gains tax should apply to only real, after-inflation gains.

Read More...


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Paul Gigot

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