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Politics : American Presidential Politics and foreign affairs
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To: DuckTapeSunroof who wrote (48822)12/29/2011 11:17:22 AM
From: TimF  Read Replies (1) of 71588
 
It maybe be obvious but your previous post didn't recognize the point.

"and all offset by healthy dollops of accrued realized capital losses which can carry-forward an unlimited amount of time"

Message 27788387

You treat that as if it lowers Buffet's tax rate below the capital gains rate. It doesn't. If the capital gains tax rate is 15% and you gain a million, and lose a half million, and get taxes $75k, you are being taxed at a 15% rate. If the million is taxed at 15% and the government ignores the half million, the $150k in taxes means that you are being taxed at a 30% rate. So "offset by health dollops of accrued realized capital losses" is a non issue. It doesn't bring your tax rate down below the official capital gains rate, it just prevents it from being higher than that rate.
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