[See NewsBusters for more.] Journalists at MSNBC and the New York Times are very unhappy about the possibility of “more tax cuts for the rich.” MSNBC Live host Ali Velshi and writer Alan Rappeport on Tuesday lamented the possibility that capital gains taxes might soon be indexed for inflation, meaning someone who invested a million dollars in 1990 would soon pay about around $255,000 on the profit of a sale, instead of around $476,000. Rather than see the upside for the economy or how this could be a fairer process, Velshi complained: “Such a change would result in an estimated $100 billion in tax savings for wealthy investors. But it would dig into the federal government and put it into a deeper fiscal hole than it's already in thanks to the last round of tax cuts, which also mostly benefitted the wealthiest Americans.”
