blco02
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- Apr 21, 2001
Guy… There's ZERO reason Mitt Romney's effective tax rate is less than half of mine (and most likely yours). Zero.
You want tax revenue to remain consistent? Cool. Increase the capital gains tax rate and reduce the middle class tax rates… Or, use it to fun programs that benefit the majority. Your call.
Capital gains money has already been taxed once as income. That's the reason you pay more. You pay a higher rate on income because investment income is different and should be taxed less.
Raising the capital gains tax rate will decrease investment in this country, period.