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The top 1% of income earners have it pretty good. Sure, they've worked hard and earned it, but then, so do the bottom 99%. They're just more likely to rely on earned income instead of capital gains.
So, why not tax capital gains at the same rate as ordinary income?
It seems to me that is an idea whose time has come.
In case you were wondering, it looks like the current "recovery" has treated the top earners pretty well:
The top 1% of income earners have it pretty good. Sure, they've worked hard and earned it, but then, so do the bottom 99%. They're just more likely to rely on earned income instead of capital gains.
So, why not tax capital gains at the same rate as ordinary income?
It seems to me that is an idea whose time has come.
In case you were wondering, it looks like the current "recovery" has treated the top earners pretty well:
Why just tax capital gains? Why not raise the rate on everyone who makes more than $150k to 110%. That way you can not only collect what they've stolen from the masses but also recoup some of the stuff they have stashed. Hell, better yet, just kill them and take it all. That would ease up the deficit AND open the door for more jobs for the unskilled.
The top 1% of income earners have it pretty good. Sure, they've worked hard and earned it, but then, so do the bottom 99%. They're just more likely to rely on earned income instead of capital gains.
So, why not tax capital gains at the same rate as ordinary income?
It seems to me that is an idea whose time has come.
In case you were wondering, it looks like the current "recovery" has treated the top earners pretty well:
I'm just going to have to assume that is sarcasm/satire.
If taxing capital gains at the same rate as earned income is "killing them and taking it all", what is the tax on earned income?
If taxing capital gains at the same rate as earned income is "killing them and taking it all", what is the tax on earned income?
If the cap gain tax is raised to the point it is not worth the risk to invest they wont and you will get nothing no investing and no taxes accumulated from those investments
Know what it's called? It's called "risk-free".
I'll support taxing capital gains as ordinary income when capital losses become refundable credits as opposed to a simple write-off.
If it is not worth the effort to get a job and earn income, then people won't want to work.
OK, there is some truth to that one, but why should earned income be treated differently? If taxes on CG are too high, then taxes on earned income are too high as well, and both need to be reduced.
A simple write off isn't good enough? Make money on investment A, lose it on B, and only pay on the difference. That makes sense. Refundable credits? That sounds like a heads I win, tails you lose sort of scheme.
By the "it's a risk so the gains shouldn't be taxed" rationale, gambling winnings should also be taxed at a special lower rate.
sure great idea raise the cap gain tax and force their investment money else where
Why just tax capital gains? Why not raise the rate on everyone who makes more than $150k to 110%. That way you can not only collect what they've stolen from the masses but also recoup some of the stuff they have stashed. Hell, better yet, just kill them and take it all. That would ease up the deficit AND open the door for more jobs for the unskilled.
the ever growing Asian marketLike where?
Somolia where they have no taxes?
Europe where they are taxed at even higher rates?
So you want to pull the rug out from those invested in stocks thereby leading to a huge market crash that would drain the retirement and supplemental accounts of tens of millions of Americans? There's a reason why these ideas are silly.
Know what it's called? It's called "risk-free".
I'll support taxing capital gains as ordinary income when capital losses become refundable credits as opposed to a simple write-off.
Above a cap, investment income should absolutely be taxed as income.
So you want to socialize losses? I never pegged you for a socialist.
Capital gained are on assets that can be lost. Wages cannot be lost as long as they are earned.
If you just flat out more money to the government, why don't you just tax wealth? Have $1 billion? send in $10 million because Ditto wants your money. This taxing income is just penny ante stuff.
Who suggested any of that?
I'd rather it just stay as it is. Higher risk should come with higher reward.
I highly disagree with the OP's position. For some reason, he thinks that something deserves to be taken just because they own it.
Robin Hood wasn't a libertarian. He was a common thief.
Who suggested the logical outcome of raising the capital gains tax on markets? The 1% that people seem so concerned about are well connected and have many tools to invest. If raising the capital gains tax was ever really considered, you would see a mass exodus from American markets from this "1% class". When people take out their money quick, markets crash. This would effect the average person with a retirement account and the casual investor.
Perhaps you can give me an alternate possibility?
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