Seals' tax plan is disastrous

Dan Seals is sending mixed messages on the capital gains tax. On his Web site he says: "I am generally opposed to double taxation, as in the case of dividends and capital gains. While it may not be politically or fiscally prudent to eliminate these taxes, I would be against an increase." But the tax plan he's repeatedly endorsed would do the exact opposite.

Seals has publicly endorsed Rahm Emmanuel's "Fair, Flat Tax Act." The bill, if passed, would eliminate the special rates for capital gains and tax them on the same level as all other income. Under this tax plan, anyone making over $60,000 a year would pay a 35% tax on capital gains, a 20% increase from current rates.

The economists' verdict on raising the capital gains tax is clear: Don't do it. Every time the tax has been raised, investment and government revenues have plummeted as people find better places to put their money. No one wins in that scenario: The government makes less, the investor makes less and jobs that otherwise would have been created aren't.

For someone who touts his business credentials Seals should know that raising the capital gains tax is the worst thing we could do in a slowing economy. We need more investment and more jobs, not less. If he can't see that then he's not ready to represent us.

Samantha Lee

Vernon Hills