Hume furthered capital gains tax assertion disputed by economists

SUMMARY: In criticizing Sen. Barack Obama's "mindset about taxes," Fox News' Brit Hume said that "when you've lowered [capital gains tax rates] in the past, you get a gusher of revenue, because people go ahead and take their capital gains and the revenues go up." However, in suggesting that cuts in the capital gains tax result in greater revenue, Hume did not note that many economists have challenged the idea that tax revenue increases over the long term as a result of cuts in the capital gains tax rate.

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