OohPooPahDoo
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Five GOP Presidential Candidates Have Proposed Eliminating Capital Gains Tax, A $1 Trillion Giveaway To The Rich | ThinkProgress
Awesome. So for those unaware - the way MOST of the filthy rich make their income is by capital gains. They pay 15% on their income obtained by capital gains. The exceptions would be those filthy rich that actually get up and work everyday - successful businessmen, salaried CEO's, highly paid doctors, etc. - those rich folk have to pay bout 35% on their income.
Now the Republicans propose we allow the former class - those that make their money off of pushing electronic pieces of paper around without actually producing anything - should pay ZERO taxes.
The richest of the rich presently average 17% in income tax because most of their income is taxed at the 15% rate. Under the Republican plan to eliminate taxes on capital gains - their tax rate would drop down to 2%.
2% tax on the uber rich
While I pay 15%
And no doubt many posters on this board pay considerably more.
The Republican plan is the fuck the middle class as hard as possible and give everything to the rich - especially the unproductive rich
At least five Republican presidential candidates support eliminating taxes on capital gains, proposing even deeper cuts than former President George W. Bush endorsed and standing in contrast to advocates of higher investment tax rates such as Warren Buffett.
According to published reports or their websites, Minnesota Congresswoman Michele Bachmann, Texas Congressman Ron Paul, former pizza executive Herman Cain and former House Speaker Newt Gingrich have said they back getting rid of the capital gains tax, which now has a top rate of 15 percent for most assets held for more than a year.
Awesome. So for those unaware - the way MOST of the filthy rich make their income is by capital gains. They pay 15% on their income obtained by capital gains. The exceptions would be those filthy rich that actually get up and work everyday - successful businessmen, salaried CEO's, highly paid doctors, etc. - those rich folk have to pay bout 35% on their income.
Now the Republicans propose we allow the former class - those that make their money off of pushing electronic pieces of paper around without actually producing anything - should pay ZERO taxes.
The richest of the rich presently average 17% in income tax because most of their income is taxed at the 15% rate. Under the Republican plan to eliminate taxes on capital gains - their tax rate would drop down to 2%.
2% tax on the uber rich
While I pay 15%
And no doubt many posters on this board pay considerably more.
The Republican plan is the fuck the middle class as hard as possible and give everything to the rich - especially the unproductive rich