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View Diary: Let's Fight for a Progressive Agenda (102 comments)

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  •  When do we go after capital gains taxation? (5+ / 0-)

    The whole point of it in the first place was to place a high enough tax on capital so that it was a disadvantage to sell it until it depreciated sufficiently. Thus, one was more likely to develop and improve the capital over a longer period of time where it was possible to do so. We may not have had the housing crisis if capital gains taxes were high enough that people would have held on to houses longer and improved them over the years rather than gambling in the real estate market.

    Now the rates are so low that it's all about flipping capital quickly while amassing wealth while paying about half of what workers pay on payroll taxes. It's the ATM for the wealthiest among us. Make them pay what workers pay in taxes.

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