Suggestion: Don't bother raising income tax rates on the rich

[cthulu2016]

Just tax capital gains and dividend income for profits/income over $500,000/year in total income, cap gains and dividends combined at the same rate as income is taxed.

Who could complain, right?



Oh, right... the Rich. They would complain plenty because they don't give the first fuck about their income tax rates because they don't make their money as regular income. And taxing their cap gains and dividend income as income would put them in the same position as the rest of us.

Which would be unfair... or something.

I think Mitt Romney's taxes would roughly double if we simply had the same rate for income, dividend and cap gains over $500K.

This would be a dangerous proposal (for the rich) because the ordinary American wouldn't see anything wrong with it... you get a big ole' wad of money and you pay income tax on it.

Seems normal to the rest of us.

[cthulu2016]

1. .

[ProSense]

2. Do both

Fuck the rich who complain.

They spend all their time attacking low-income Americans.

As it is, the payroll tax structure is a "gift" to wealthy Americans. Anyone earning $250,000 only pays payroll taxes on about 45 percent of their income. A person earning $1 million pays it on about 11 percent of their income.

The majority of Americans have to pay it on every dollar they earn.

[Control-Z]

4. Was about to post the same thing.

Do both.

[SoCalDem]

5. AND add two more "tweaks " & we're rolling in dough

1...eliminate the cap on Deductions from SS/FICA...apply to ALL INCOME (not just paycheck earnings)

2...add a small TRANSACTION "fee" to EVERY stock/investment transaction (10 million shares of xxxx = 10 million times whatever percentage fee)

[cthulu2016]

6. Well, that's fine too

[MrSlayer]

3. This has been my point all along.

The real scum don't pay income tax at all. Cap gains must go up, corporate minimum tax must come back and tax wall street transactions, every single one.

Fighting over two points on the top bracket that the biggest thieves don't even pay is folly. Particularly when offset by slashing benefits to the poor and elderly.