Brown, Whitman clash over capital-gains tax

WEST HOLLYWOOD, Calif. Luxury cars of Hollywood heavy hitters filed into a fundraiser at Soho House for Jerry Brown. It was a $5,000-a-plate event, but some paid up to $25,000 to attend a private reception. This after Brown said Thursday that Meg Whitman's tax plan would benefit the rich.

Brown stood outside a school in Elysian Park where he criticized Meg Whitman's plans to cut the capital-gains tax. He says that would reduce state revenues by $5 billion and that would result in cuts for public schools.

"The schools have already suffered a $3-billion cut this year alone in the budget," said Brown. "They're not getting the amount of money that is anticipated by Proposition 98, so it's just taking more money. It certainly can't be good news."

Thursday, several Whitman supporters showed up at the event.

A Whitman spokesperson says the cuts would not come from education and it would actually create jobs.

"Eliminating the capital-gains tax would increase revenues, which would give us more money to put into education," said Andrea Jones Rivera, spokesperson for the Whitman campaign.

And as he did on Tuesday during the debates, Brown again asked Whitman to reveal how much she would save if the capital-gains tax is eliminated. She hasn't released her personal taxes, so the campaign estimated a number.

"Fourteen-point-nine million, which is based on the amount of money that she has personally put into the campaign," said Brown.

Brown hasn't released his taxes either.

"He didn't make his tax returns public after he left office because he was being paid off by special interests," said Jones Rivera.

Hollywood celebrities Steven Spielberg, Jeffrey Katzenberg, and David Geffen are throwing Thursday night's fundraiser.

Friday, former President Bill Clinton will be with Jerry Brown at a rally.

Meg Whitman will be campaigning Friday in the Sacramento area.

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