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Wed Dec 12, 2012, 04:24 PM

It's not the Tax Rates that are killing the budget....

It's the make-up of how we tax money.

It is the preferential tax treatment of Capital Gains that is blowing holes in the amount of taxes collected.

Most of the revenue earned by those at the top of the Income Tax Rate have neatly and quietly changed their income from salary to capital gains.



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Reply It's not the Tax Rates that are killing the budget.... (Original post)
WCGreen Dec 2012 OP
In_The_Wind Dec 2012 #1
WCGreen Dec 2012 #5
JoSpits Dec 2012 #2
Gregorian Dec 2012 #3
WCGreen Dec 2012 #6
CaliforniaPeggy Dec 2012 #4

Response to WCGreen (Original post)

Wed Dec 12, 2012, 04:35 PM

1. How can the problem be solved?

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Response to In_The_Wind (Reply #1)

Wed Dec 12, 2012, 04:40 PM

5. Personally, I would tax Capital Gains the same as regular income AND....

lowering the top rate down to 33%.

This would raise more money and would also get rid of making decisions for the company to be based on actual the price of the stock.

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Response to WCGreen (Original post)

Wed Dec 12, 2012, 04:36 PM

2. Spam deleted by SidDithers (MIR Team)

 

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Response to WCGreen (Original post)

Wed Dec 12, 2012, 04:38 PM

3. I'd say it's partly due to the military spending.

I just want to keep this as part of the discussion.

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Response to Gregorian (Reply #3)

Wed Dec 12, 2012, 04:46 PM

6. That is the spending side...

I was looking at how to get more income tax collected without raising rates.

I agree that the Defense part of the budget is way out of whack and should be cut deeply.

Most of what we are protecting are the assets of the large corporations. Just another reason to tax the wealthy owners at a rate of 33%.

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Response to WCGreen (Original post)

Wed Dec 12, 2012, 04:39 PM

4. Well said...K&R

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