Sigh.. Reagan raised, not cut capitol gains.
The downsizing has to do with the inefficiencies inherent with unions- one of the key factors in why GM needed bankruptcy and a government bailout.
The venture capitalist dismantling businesses was because the businesses were worth more closed and liquidated then open and producing. This was a product of poor management, high regional labor costs (unions) compared to globalized labor costs, and a high cost of business from regulation and market forces. It had little to do with capitol gains outside of changing the amount needed for profit. The change in the amounts needed for profit was minute compared to the other costs. People were liquidating businesses long before the capitol gains rate changed under Clinton. The real enemy you saw was globalization of the market place.