Re "Time to cooperate, problem solvers say" (Page A1, Feb. 8): It is encouraging that some lawmakers are trying to work together to solve problems. But as long as the capital gains tax rates are off the table, not much can be done to stop the increase in the deficit.
In the 1990s, the capital gains tax rate was 28 percent, the economy did fine and the budget was balanced at the end of the decade. The rate was cut to 15 percent, the economy crashed and the deficit soared. The very wealthy, who get most of their income from what is categorized as capital gains, enjoyed a nearly 50 percent cut in their tax rate, and they still complain. Yet no one, Democrat or Republican, seems to have the courage to discuss increasing the rate back to where it was.
-- Eugene Wytrykus, Lincoln