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luckyleftyme2

(3,880 posts)
Wed Sep 26, 2012, 10:29 PM Sep 2012

why the wealthy want to get rid of capital gains tax


whats wrong with elminating the capital gains tax=Romney paid 14% on his taxes in capital gains tax=nothing in income tax! he made 13,696,951; a few years ago he would have paid 3,835,146;a few yrs before that 5 million -the right wants to elminate the capital gains tax-that means you the worker have to pick up the void! think about that!!! think hard!! because they have shifted the tax burden by 40% to you in the last 10 years!
vote your pocket book=it ain't "alec" or the heritage foundation picking up the slack! its you and me while the big boys skate!
my off shore account is "0" WHATS YOURS?
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why the wealthy want to get rid of capital gains tax (Original Post) luckyleftyme2 Sep 2012 OP
And I don't buy the double-taxation meme Liberal Gramma Sep 2012 #1
maybe luckyleftyme2 Sep 2012 #2
Agreed. Liberal Gramma Sep 2012 #3

Liberal Gramma

(1,471 posts)
1. And I don't buy the double-taxation meme
Wed Sep 26, 2012, 11:05 PM
Sep 2012

It might have some resonance if capital was all earned money, already taxed, and then invested. Most of our wealthy investors inherited the money, so they haven't been taxed on it yet. And, if I buy a coffee with my taxed earnings, I'm paying sales tax on that, so "double taxation" is the norm. Personally, I think unearned income should be taxed at a higher rate than earned income.

luckyleftyme2

(3,880 posts)
2. maybe
Thu Sep 27, 2012, 07:11 AM
Sep 2012

Ithink unearned income like capital gains should never be taxed less than 28%; which is about the avg income tax rate of the upper middleclass !

Liberal Gramma

(1,471 posts)
3. Agreed.
Thu Sep 27, 2012, 12:19 PM
Sep 2012

Minimum tax rate for unearned income should not be lower than the average Joe pays for earned income.

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