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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (204477)	10/9/2012 8:50:12 PM
From: Win Smith	Read Replies (1) \| Respond to of 541698

Romney is primarily benefiting from the low rate on capital gains, coupled with the extremely irritating "carried interest" thing that lets hedge fund types making a cool $billion or so a year to treat their vast rakeoff as capital gains too. I don't think Romney is proposing anything to reduce the favored treatment of capital gains, Looking it up, he seems to currently be proposing a total exemption on capital gains on income below $200k. I will point out in passing that the Tax Reform Act of 1986, the last time tax simplification and lower rates in exchange for fewer deductions was attempted, the preferential treatment of capital gains was eliminated, though there was immediate clamor for its reinstatement. Currently, there's sort of an odd anomaly where the 25-35% brackets all pay the same 15% capital gains rate.