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Politics : Formerly About Advanced Micro Devices
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To: J_F_Shepard who wrote (652063)4/20/2012 10:48:00 AM
From: i-node  Read Replies (2) of 1579736
 
>> 15% of AGI is very special treatment for billionaires.....dumbass.....

There are two fundamental points that seem to confuse liberals on this --

a) The fact that cap gain income is taxed at lower rates than ordinary income -- something which has been true for almost 100 years -- because Congress has seen time and again that lower cap gain rates are good for the economy -- starting almost from the inception of our federal income tax; and

b) That capital gains have never in history been taxed for social security or medicate tax purposes, nor should they -- the "contract" that was made with the American people was that these things would be paid for with a tax on a portion of earned income only.

Changing either of these things would be an absolutely radical thing to do. For the brief period that favorable treatment was eliminated to capital gains, it was because the overall rate structure had been flattened -- which lasted only a few years before Congress foolishly began raising ordinary income rates again which led to the reinstatement of lower cap gain rates.

Now, we have an incompetent fool in the WH who would love nothing better than to break the tax code by doing away with something that has been shown time and again to spur economic growth.
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