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View Diary: Sen. Sheldon Whitehouse set to introduce 'Buffett Rule' tax bill (104 comments)

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  •  Capital gains (1+ / 0-)
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    I am not particular driven about what the Capital Tax gains should be - but by even arguing about it one actually undermines the political strength of this new proposal since once your income exceeds $1m then of course you would tax Capital Gains at 30%.

    The beauty of the current proposal would be the simplicity of the target - i.e it is not targeting millionaires (many of whom have worked hard /saved hard to get to that postion over a lifetime) but rather targeting people who make a $1m per year in mainly unearned Income - i.e they are not necessarily working that hard - hence Romney is the prime target.

    This is a very important distinction.

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