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View Diary: Sen. Chuck Schumer tells Democrats to forget Bowles-Simpson tax plan (178 comments)

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  •  It's not a lot of revenue, however (0+ / 0-)

    Yes, it would be more "fair".  Raising capital gains would bring in less than $100 Billion per year.  I believe the figure is $70 Billion - and that is with the marginal rate increasing as well as the 3.8% ACA tax.

    But, whenever cap gains rates have increased in the past, revenues have gone down (and go up when rates are again reduced).  There is no reason to think otherwise this time around.

    $70 Billion sounds like a lot, but ten year's worth doesn't even cover 1 year of Obama's deficits - even if that figure held true on the revenue side.

    The only real way to increase revenues is to get the economy chugging again.  And that is why Romney's pitch about growing the economy at the debates hit a chord with voters.  Whether or not he can do it is besides the point if they believe it.

    •  Wall Street Transaction tax, $1.5tn over decade (1+ / 0-)
      Recommended by:
      daeros

      "Lets show the rascals what Citizens United really means."

      by smiley7 on Tue Oct 09, 2012 at 02:51:30 PM PDT

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    •  "Obama's deficits"? (0+ / 0-)

      Where the heck did you get that one from, a Tea Party rally?

      For if there is a sin against life, it consists perhaps not so much in despairing of life as in hoping for another life and in eluding the implacable grandeur of this life. - Albert Camus

      by Anne Elk on Tue Oct 09, 2012 at 04:31:07 PM PDT

      [ Parent ]

    •  I am saying to eliminate it (1+ / 0-)
      Recommended by:
      ferg

      because it's based on bullshit. I don't care whether it raises $70 billion or 50 bucks. It's a matter of fairness.

      For if there is a sin against life, it consists perhaps not so much in despairing of life as in hoping for another life and in eluding the implacable grandeur of this life. - Albert Camus

      by Anne Elk on Tue Oct 09, 2012 at 04:32:30 PM PDT

      [ Parent ]

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