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View Diary: On day of Mitt Romney's tax release, poll finds widespread support for raising taxes on the 1% (59 comments)

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  •  That's not the only point. (3+ / 0-)
    Recommended by:
    kingfishstew, tofumagoo, VClib

    those who make $344,000 (say, a middle-aged working professional couple each making $175,000 - $200,000) are taxed at the rates for earned income, which are presently (33% up to about $379,000, 35% above that).  

    That 15% is only on capital gains income.  Only the uber uber rich (Romney, Warren Buffet) are taxed at those low rates, because they can get most income through capital gains.  The "merely" 1% are taxed at the much higher earned income rates, because the "merely" 1% are working to earn their income.  

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