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View Diary: George W. Bush: "Income inequality is real" (26 comments)

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  •  Capital gains rate is way too low now, but I (2+ / 0-)
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    unfangus, liberalconservative

    disagree on making it equal to regular tax rate as it does involve some risk and rewards investment.  I think it should be somewhere around 75% to 80% of the top rate (as opposed to about 40% of the top rate as it is now). [I presume your poll is about long term capital gains, not short term ones.]

    Long term capital gains rates were cut in half, from 40% to 20%, by Jimmy Carter as a correct measure to revive the economy. Sadly for him, and for the Country, the revived economy took a few years and Republicans talk about the Reagan boom, which really was (to a great extent) the boom from Carter's capital gains rate.

    I think a long term capital gains tax rate around 28% to 30% would still reward investors sufficiently so that they invest, bring in much needed revenue, and give a little help in turning around the DOOH NIBOR situation we are in.

    Short term capital gains rate should definitively be taxed as regular wages and perhaps the line between short term and long term (usually 1 year) be moved to 2-3 years.

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