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View Diary: Not even Republicans believe that Americans want smaller government (62 comments)

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  •  rates vs. preferences (13+ / 0-)

    Important to note here, the lobbyist class understands that favorable tax treatment of investment is far more important for the 1% than marginal tax rates. Rich people don't earn wages, so the entire tax rate for wages debate is a bit of a distraction. They'll be laughing all the way to their bank if they can keep carried interest and cap gains rates low.

    •  This! (5+ / 0-)
      Recommended by:
      OffTheHill, aisb23, DSPS owl, eps62, Smoh

      Carried interest and capital gains are where the real money is.  The whole outcry over marginal tax rates is just so much " Don't throw me in that briar patch, Bre'r Bear!"   The longer they keep everyone's attention on marginal tax rates, the longer it will be before anyone can get to demanding that Cap Gains and Carried Interest be taxed the same as earned income.

    •  I want capital gains in the mix for getting the (4+ / 0-)
      Recommended by:
      DSPS owl, Little Flower, eps62, Smoh

      rates raised. There is no reason that people who have income from capital gains should get better treatment than people whose income is from wages. Roll it all together into one income and tax people on the combined amount.
      People who have some capital gains but not much and whose incomes are modest would end up paying less on the capital gains than those people, like Romney, who have huge incomes much of which is from capital gains. And that's as it should be.

      We're not perfect, but they're nuts! -- Barney Frank

      by Tamar on Mon Dec 03, 2012 at 04:11:37 PM PST

      [ Parent ]

      •  But I can see allowing a certain amount (1+ / 0-)
        Recommended by:
        Smoh

        Of cap gains to be excluded. Maybe a few thousand. It would encourage investment by middle income people. Those who have a small amount they can play with, or who get small stock options, wouldn't have to worry about getting zapped at the end of the year.

        But after you subtract that amount, the rest gets taxed like any other income.

      •  Capital Gains... (3+ / 0-)
        Recommended by:
        Tamar, eps62, Smoh

        from raiding a pension fund -- like Romney and the vulture capitalists were wont to do -- should be taxed at 100%, since the pensioners who were robbed will have to rely on the federal government for less than 60% of what they had before they were raided.  The IRS and Department of Justice can coordinate to determine who did the raiding.  Maybe we should make raiding a company's pension fund for private gain a capital offense.

        •  new kind of "capital" gains -- we gain by making (1+ / 0-)
          Recommended by:
          Smoh

          pension fund theft a capital crime! (actually, I'm against capital punishment, but I like your humor).

          We're not perfect, but they're nuts! -- Barney Frank

          by Tamar on Mon Dec 03, 2012 at 05:17:04 PM PST

          [ Parent ]

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