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Response to JaneyVee (Original post)

Fri Nov 9, 2012, 04:11 PM

41. It is a bullshit statement, people

The top marginal tax rate make no difference whatsoever because none of the millionaires pay that. What they do is:

1) Shelter most of their income entirely from taxes, through offshore havens and/or complex corporate structures

2) Show some of their income as dividends, which is currently a special 15% rate for billionaires, but was the ordinary income rate before the bush cuts

3) Use loopholes such as carried interest to launder other income as capital gains, again getting the special billionaire's rate of 15%, which was 20% before Bush's cuts.

Obama is poised to sell us out again. Show me some action on the real billionaire scam and then we can talk. If you just go by the public statements, Boehner is actually closer to dealing with the real problem than Obama is.

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