Quote:
Originally Posted by ChinoCoug
There is no Republican with a plan that can realistically balance the budget. Sanders' plan is poppycock, but that is par for course for the GOP.
Rubio will cut the top rate from 39% to 35%, give the middle class an even bigger cut, and collapse the tax brackets into only three. So far so good.
But then...eliminate the cap gains tax, inheritance tax, dividends tax...on his website I don't see any cuts that will pay for it. Maybe I missed something.
Cap gains is basically income from sitting on your bum. Why that shouldn't be taxed is beyond me.
The income inequality in this country is worsening. White males are dying from suicide and drug and alcohol poisoning at accelerating rates. That makes the vulnerable to demagoguery from the likes of Trump.
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Many countries do not tax capital gains and the US rate is the fourth highest in the world.
http://taxfoundation.org/article/top...oecd-2011-2014
Capital gains are NOT income for sitting on your but, but the opposite, leaving capital in the system to fund new factories, buildings, and new businesses. Allowing capital funds to invest by having a low tax rate is reasonable and accepted generally throughout the world.
People who complain about the capital gains tax treatment are people who don't understand it or who don't have capital to invest.
Balancing the budget will occur by reshaping government employment and unfunded pension liabilities.