Dr. Stanford, you mentioned that the revenues from this tax were paying for some laudable public policy objectives. When I look back at the projections from the finance department a year ago, the debt service costs, versus today, have gone up by $8 billion in this current fiscal year and by about $10 billion per year, for every year, by the time we get to five years out. It seems to me that a large share of the revenue from this capital gains tax is actually just paying debt service costs.
On June 18th, 2024. See this statement in context.