“GOP presidential candidate Mitt Romney has released his tax returns. He made $21.7 million in 2010 and $21 million in 2011. As far as taxes are concerned, they paid $3 million back to the government in '10, and they paid $3.2 million in federal taxes in '11. Over those two years, Romney's tax rate was slightly under 14%. His income was derived almost entirely from capital gains and dividends from his extensive portfolio of investments. And that form of investment income is typically taxed at just 15%, well below the 35% top tax rate for high earners.”—
This is the reasoning behind the Buffet tax. The rich taxpayers are not paying their fair share. You can be rich all day, I don’t give. Just pay your fair share. But what happened to the Buffet tax? The American government threw it out. Meanwhile, in screw me over town, the percentage of income I paid in taxes more than doubles what he paid, and I am not even making one percent of his income.
Do you see the level of asinine fackery that is taking place?
NO, CAPITAL GAINS TAX IS NOT 'FAIR'!!! MAKE IT ZERO PERCENT!!!~
But no!~ Leftists want to make Capital gains equal to income tax… brilliant lets grind the economy to a halt. PFTSH
ENCOURAGE IT MORE BY REMOVING THAT TAX, & oh, increase employment by ELIMINATING INCOME TAXES TOO!!!