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Do we really need to get back into the difference between capital gains and income taxes?
The income tax rate for the wealthy is 40%. Taxing capital gains like you tax income would destroy the economy. Not to mention the capital gains rate is for the US is already amount the worlds highest, plus many states already tax capital gains as well as the federal government.
Read this Six Reasons to Keep Capital Gains Tax Rates Low | Cato Institute
Not to mention, most of the time tax rates are lowered by these ceo's donating millions and millions of dollars to charity. Like Romney that gave 30% or over 4 million to various charities.
Billionaire CEO's pay taxes by capital gains. Fox/Rush say taxing capital gains hurts the economy, so the CEO's get low tax rates. These CEO's are the ones who give republicans their campaign money.
Watch this link with Warren Buffet aka "the oracle of Omaha", one of the greatest investors of all times. Buffet says low taxes on capital gains don't do anything for investing or the economy.
But whats the point the CEO's at Fox/Rush already told you what to believe.
I'll go post the exact same links disproving your "facts".
You've disproved nothing. But go ahead and do your best to try to disprove the Maxwell Poll results. They have extensive data sets all laid out in an Excel file. I posted the link.
Billionaire CEO's pay taxes by capital gains. Fox/Rush say taxing capital gains hurts the economy, so the CEO's get low tax rates. These CEO's are the ones who give republicans their campaign money.
Watch this link with Warren Buffet aka "the oracle of Omaha", one of the greatest investors of all times. Buffet says low taxes on capital gains don't do anything for investing or the economy.
But whats the point the CEO's at Fox/Rush already told you what to believe.
If warran buffet had an ounce of integrity he would put his money where is mouth his. Instead he employee every tax dodge he can think of.
I wonder how much capital gains taxes will be received when the ceo's move out of country because of an even more ridiculous tax system. We already have of if the highest capital gains tax rates.
Do we really need to get back into the difference between capital gains and income taxes?
The income tax rate for the wealthy is 40%. Taxing capital gains like you tax income would destroy the economy. Not to mention the capital gains rate is for the US is already amount the worlds highest, plus many states already tax capital gains as well as the federal government.
Read this Six Reasons to Keep Capital Gains Tax Rates Low | Cato Institute
Not to mention, most of the time tax rates are lowered by these ceo's donating millions and millions of dollars to charity. Like Romney that gave 30% or over 4 million to various charities.
The capital gains rate is 15-20%. It used to be 40% and it didn't destroy the economy. As Buffett said himself, "I have worked with investors for 60 years and I have yet to see anyone — not even when capital gains rates were 39.9 percent in 1976-77 — shy away from a sensible investment because of the tax rate on the potential gain. People invest to make money, and potential taxes have never scared them off. And to those who argue that higher rates hurt job creation, I would note that a net of nearly 40 million jobs were added between 1980 and 2000. You know what’s happened since then: lower tax rates and far lower job creation."
The capital gains rate is 15-20%. It used to be 40% and it didn't destroy the economy. As Buffett said himself, "I have worked with investors for 60 years and I have yet to see anyone — not even when capital gains rates were 39.9 percent in 1976-77 — shy away from a sensible investment because of the tax rate on the potential gain. People invest to make money, and potential taxes have never scared them off. And to those who argue that higher rates hurt job creation, I would note that a net of nearly 40 million jobs were added between 1980 and 2000. You know what’s happened since then: lower tax rates and far lower job creation."
Stronger economic growth from a lower capital gains tax rate would raise government revenues from all tax sources. A macroeconomic analysis by Allen Sinai found that a capital gains tax rate of 15 percent would raise more revenue than a 20 percent rate because GDP, employment, and stock prices would be higher.18 Similarly, a study by Stephen Entin found that long-run GDP and government revenues would be higher with a 15 percent capital gains tax rate than a 24 percent rate.19 http://www.cato.org/sites/cato.org/f...df/tbb-066.pdf
What average effective federal income tax rate do you think the very highest earners, top 0.1% (the highest paid 1/10th of the top 1%), are paying?
And what average effective federal income tax rate do you think the middle class (top 50-25%) is paying?
Post your answers.
If you make $2,000,000 a year and your not a CEO your getting nailed with taxes.
If you make $150,000 a year your getting nailed with taxes.
Its the millionaire CEO's who's personal income is taxed by capital gains, who pay the 11%-17% personal tax rates.
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