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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?


To: DuckTapeSunroof who wrote (358419)2/13/2003 8:23:50 AM
From: Bill  Read Replies (1) | Respond to of 769670
 
I'm sure in 1999 there were a few folks who cashed in a bundle of hot IPO stock, like Terry McAuliffe and Gary Winnick, for big capital gains. The capital gains tax is 20%. If a guy with a $1 million salary has a $100 million LT capital gain, his total tax will be around 21-22% of his total income, right?

So, back on topic, show me how anyone in the top 1% pays an effective INCOME tax rate anywhere near anyone in the bottom 50%.