Why it was Newt Gingrich and co.'s Contract With America.
In '97, realized taxes from capital gains was $364.8 billion.
The following year, despite a 25% cut in the capital gains tax rate, revenues rose by $89 billion.
You are correct, I'd hope that was implied in my response, but it's all good. Yes Newt and the boys dropped Cap-Gain rates and Clinton was smart to go along with it. Not dropping Dividends in tandem with that move will always have me asking what if, i.e. could the correction in 1999-2000 been avoided ( partially, if Greenspan didn't helicopter as well on a impending "crash" in a sub-segment of the market, which only set a president ) by everyone focusing on "growth" and "Hi-Tech" rather than tried and true value and long term growth. Ironically one of the survival tools post 09' was to revisit Dividend type Stocks ( in many inside the industry publicans @ the time) and yes, none of the above is investment advice....