GOP Tax plan (Simpson, Obama, millionaires, education)

[TheEmissary]

Originally Posted by pknopp

I think ending deductions for a lower rate is the way to go as far as that goes......

Why is 40% of Capital Gains tax exempt?

You don't want some millionaire to drop down to six figures? I swear, every time the GOP comes up with a "revenue-neutral" tax plan, I end up paying more. It's kind of like how the Cable company is going to save me big bucks and a couple of months later the bill goes back up. How about we go back to the Eisenhower days when the capital gains top rate was 90%. At least we got some highways out of that deal!

[pknopp]

Originally Posted by TheEmissary

You don't want some millionaire to drop down to six figures? I swear, every time the GOP comes up with a "revenue-neutral" tax plan, I end up paying more. It's kind of like how the Cable company is going to save me big bucks and a couple of months later the bill goes back up. How about we go back to the Eisenhower days when the capital gains top rate was 90%. At least we got some highways out of that deal!

Thanks but I have no clue how this answers my question.

[Egbert]

Considering it is a giant tax increase on Democratic states I seriously doubt it will go anywhere in the senate.

GOP's New Plan Hikes Taxes On Americans In Blue States

[greywar]

Originally Posted by pknopp

I think ending deductions for a lower rate is the way to go as far as that goes......

Why is 40% of Capital Gains tax exempt?

Because by doing that, they're hoping that low IQ voters wont realize that that means capital gains are taxed at a 40% lower rate......

[pknopp]

Originally Posted by greywar

Because by doing that, they're hoping that low IQ voters wont realize that that means capital gains are taxed at a 40% lower rate......

Yeah well, I know it's not that simple but since the odds of anything passing is low I don't really feel like taking the time to look it up. I just thought maybe someone would know.

[pnwmdk]

Originally Posted by greywar

Because by doing that, they're hoping that low IQ voters wont realize that that means capital gains are taxed at a 40% lower rate......

As if taxing capital gains was anything but insanity.

[Egbert]

Originally Posted by pnwmdk

As if taxing capital gains was anything but insanity.

So you think people who earn money a certain way should be taxed more then people who earn money another way?

[pnwmdk]

Originally Posted by Egbert

So you think people who earn money a certain way should be taxed more then people who earn money another way?

No, income should never be taxed. Nor should property.

[Egbert]

Originally Posted by pnwmdk

No, income should never be taxed. Nor should property.

So you want to go back to the days of excise taxes? If so why should people be penalized based on their behavioral choices.

Or maybe you prefer tariffs and if so why do you think the government should favor sellers over buyers?

[Finn_Jarber]

Wouldn't this kind of tax hike violate their own pledge?