Pagliuca favors 33-percent hike in capital gains

BOSTON -- Democratic Senate candidate Stephen Pagliuca says the capital gains tax should be raised from 15 percent to 20 percent to help pay down the federal budget deficit and national debt.

Pagliuca says the 33-percent hike won't deter investment among millionaires such as himself, but make the wealthy pay a fairer share of the country's bills.

The Boston Celtics co-owner and longtime Bain Capital executive also said Wednesday on WTKK-FM that he wasn't responsible for jobs cuts at an Indiana firm that derailed the 1994 Senate campaign of his boss, Republican Mitt Romney.

Pagliuca says he was focused on technology and medical devices at Bain. Nonetheless, he was invested in a fund that profited from the Indiana deal.

Pagliuca is among those vying to succeed the late Sen. Edward Kennedy.

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