I agree, this reads like they’re inflating the scope of what occurred and covering up other inconvenient facts.
I’ve yet to see a coherent argument against the elimination of the capital gains tax, the repeal of the Community Reinvestment Act, and the elimination of other miscellaneous legislative/executive regulations regarding forced subprime loans.
By eliminating the capital gains tax people would be free to bring in their capital and invest it and when they sold they wouldn’t have to pay the capital gain. This would also free up money that was squired away in the Bahama’s to come to America and invest without penalty.
I'd like to see an Unintended Consequences argument on this. It is my understanding that there is a lot of inherited stock that isn't sold because of the capital tax gains tax involved, but if the tax was removed, would the rush to sell drive the market down even further? Some may be rich/smart enough to wait until the first rush is over, but I'm wondering what that rush-to-the-exits move would do to an already skitzy market, despite the lure of new reinvestment cash.