Quote from Jayford:
net revenue from cap gains taxes increases will DROP, and BO even acknowledges this. He doesn't care because it would be "fair".
If that is not beyond stupid, I do not know what is.
BTW, it is pretty much accepted as fact that revenues drop when cap gains are raised. Last two rate rate changes proved this almost immediately, both a raise and a drop, depending on the rates. This is not Laffer Curve theory (that's income tax), this is easily observable fact. Both myself and others have posted articles, charts about this ad nauseum. Not really needed when Barak admits it though.
