Today ATR released a 1992 video of then-congressman Chuck Schumer urging an end to the inflation tax on capital gains.
On the House floor, Schumer said:
“If we really want to increase growth, there are proposals that we can do. I would be for indexing all capital gains and savings and borrowing.”
Shortly thereafter, 220 House Democrats voted to end the tax on inflation, including Chuck Schumer, Steny Hoyer, Nancy Pelosi. Also voting Yes: Bernie Sanders.
The tax law Chuck Schumer hates – but used to praise (The article by authors James Carter and Peter Roff that brought this vote to ATR’s attention.)