'Fair, flat tax' plan is actually unfair

Dan Seals confirmed his utter lack of economic credentials when he announced that he supports Rep. Rahm Emanuel's so-called "fair, flat tax act."

This revelation should send a chill down the spine of anyone who invests or has a 401(k).

What Seals didn't mention when he announced his support of Emanuel's bill, and what he hopes no one will bother to look up, is that the proposed bill massively increases the capital gains tax.

The current tax rate on capital gains is 15 percent.

Under Emanuel's plan, if you make over $60,000, the rate shoots up to 35 percent.

Such a drastic increase would be disastrous to the economy and would greatly discourage investment as well as saving for retirement.

It is nothing more than class warfare.

That Mr. Seals would support something so economically destructive so he can cadge a few votes is disappointing, but not surprising.

I guess the change he keeps talking about is leaving us with less change in our pockets.

Michael Dzakovich

Northbrook