Don't you think doubling the capital gains tax, possibly in some strange cosmic universe, would discourage investors from investing??
Why do conservatives value investment dollars over labor dollars?
Why should $40,000 made from moving money from one place to another be taxed at a lower rate than $40,000 made working in a sewer?
Why does Mitt Romney pay less than 15% on his income while a family struggling to get by pays 24% ????
this question has been asked and answered 100 times...how many more times do you need to see it?
the money has been taxed at the corporate income rate already, then it is taxed again, at the 15% cap gain rate...thats not enough?
here lets take little ole me, we just did our taxes and my wife had some stock grants via restricted stock options ( RSU's) which had vested, as in they are now her property.
here is the tax we paid, up front, to take possession of every share-
Federal 25.00
Medicare 1.45
Social sec. 4.20
Cali. State 10.23
Cali sate disability ins. 1.20
Total= 42.08%
now, if we sell the share or shares of stock, we pay a cap gain rate of 15% on ever penny of gain as well ....... if we paid tax on the RSU grant price of $60 a share and we hold on to it and wait, and it hits say $80, we pay another 15% tax rate on the $20 ( if thats the rate at the time) when we actually sell it. see how that works?
Now remember, in order for the co. to make that stock grant they had to have made a profit where in they paid the corp. tax rate of 35% when the closed their books for the year.
A portion of the proceeds, of the after tax [Ii]ncome/profit[/I] for that co. was then provided via RSU's to its employees...
so tell me , anyone, how many times was that money taxed?
warren buffett as he characterizes this issue is, simply- full of crap.