According to The New York Times, a publication Joseph Cannisi (Dec. 15 letter) claims to trust, President Ronald Reagan’s 1986 Tax Reform Act raised the capital-gains tax to 28 percent from 20 percent. According to the Wikipedia Encyclopedia, President Bill Clinton’s Taxpayer Relief Act of 1997 lowered the capital-gains tax back to 20 percent.
Yet Cannisi blames Reagan for the lower tax. So that explains why he thinks that Clinton (as well as Jimmy Carter and Barack Obama) are progressives.
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