Obama would raise Capital Gains Taxes on the grounds of fairness

In a flat out lie, Obama told the American people on Tuesday that Warren Buffet’s secretary pays a higher tax rate than he does.  This is not true.  Mr. Buffet is taxed on capital gains and his secretary is taxed on earned income.  Therefore when Obama calls to raise taxes on Mr. Buffet, he is calling to raise capital gains tax.  Now the point that needs to be made here is that there is an inverse correlation between the capital gains tax and revenue to the federal government.  The charts below from the CBO show that when the capital gains tax is raised the revenue goes down.  Conversely when the capital gains tax is lowered then revenue to the federal government goes up.

Source: Congressional Budget Office; Department of Commerce, 

Bureau of Economic Analysis; Department of the Treasury.

http://www.cbo.gov/doc.cfm?index=3856&type=0

So if this is the case, we should ask President Obama why he wants to raise the capital gains tax if it is proven to decrease revenue.  Luckily we have an answer to that question.  In 2008, Charlie Gibson ask Obama this same question during a Democratic Primary debate. Obama answered (seen in the below video), "Well Charlie, what I've said is that I will look at raising the capital gains tax for purposes of fairness."  

Obama must have missed Economics 101.  The goal of any business is to increase profit and in the governments case it comes in the form of tax revenue.  It would be nice to have a president that focused on balancing the budget not making life fair for everyone.