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Politics : Politics for Pros- moderated
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To: LindyBill who wrote (443080)8/29/2011 2:07:16 AM
From: Elroy  Read Replies (2) of 793939
 
Tax policy is high on the agenda for next year's U.S. elections

Thinking about tax reform.....What about the idea of lowering the individual and corporate tax rates, and significantly increasing the capital gains tax rate? Try to do it so it's revenue neutral.

Lowering the individual income tax rate lets salaried workers keep more of their pay (good for them, and for the economy), lowering the corporate tax rate does the same for businesses (good for the economy), and increasing the capital gains tax rate penalizes the people who sit around doing nothing but enjoying appreciation in the prices of their assets (bad for the rich, tough luck, someone's gotta pay).

It seems a guy who works 40 hours per week and makes $100,000 per year oughtta pay less than a guy who does nothing all year but makes $100,000 on sale of IBM stock.
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