I took "30% range" as "a range with 30% as the mean." I apologize, I blame it on the statistics class I am currently taking. Everyone who is paying a higher rate of income tax is redistributing their money to Romney.
I need to do some bartering with you... Would you rather have 35% of $60,000 or 14% of $30,000,000? Now you have to stick to your guns about going with the percentage rate rather than the dollar amount.... :grin:
Because the people who derive their income mainly from investments lobbied for and received massive tax breaks from the GWB administration. Reagan had it right, investment income should be treated like all other income.
I would rather have the aggregate of all of the $30,000,000 income earners who currently pay 14% paying the same rates as people who work for their money. In addition, as I said before, I fully agree that the Bush tax cuts should be cut out in their entirety, so that the sacrifice is shared while we work towards eliminating the deficit.
Not an economist, but the argument is that it allows for more capital to be moved around. You know this, you don't believe it, but you know that is the argument. Why do you pretend to not understand?
Didn't the Clinton administration also cut the capital gains tax rate? If that's your stance, then do you agree that the capital gains loss should be unlimited as opposed to its current $3,000 cap?
Yes, and then Bush lowered it even further. http://capitalgainsandgames.com/blo...-clinton-and-fell-under-bush-reasons-had-litt I would be OK with a higher limit, but not unlimited.
