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View Diary: Mitt Romney: It's fair I pay a lower tax rate than people making $50,000 (348 comments)

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  •  The guy making $50K, has to do it... (1+ / 0-)
    Recommended by:
    walk2live

    ...by working 40+ hour weeks, 50 weeks a year. That guy should be taxed less than the rich asshole not working, sleeping late and playing golf, while interest accrues in various offshore accounts.

    Cap gains (that is not a direct result of work) should be taxed MORE than income that is actually worked for.  Doesn't that make sense?

    •  Absolutely... sort of. (0+ / 0-)

      All money is green... should be taxed the same.

      the only exception/explanation I can think of is this:

      Let's say you make a capital gain of $50K from an investment that you made 5 years ago. Should you get taxed as if you made $50K this year? or taxed as if you made $10K/year for 5 years. The net tax is quite different in each instance.

      (fwiw, capital gains that are realized in less than a year are taxed as ordinary income...)

      I think this is the primary justification for a lower long-term capital gains rate. But, it shouldn't just be a flat 15%. It ought to be adjusted based on the amount of the gain and the time period.

      Also, I think there should be provisions made to exempt things like primary residences, etc... which there already are.

      Freedom isn't free. So quit whining and pay your taxes.

      by walk2live on Sun Sep 23, 2012 at 10:04:05 PM PDT

      [ Parent ]

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