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View Diary: "Top aide to Obama signals willingness to compromise over raising top tax rates on the rich" (95 comments)

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  •  Exactly. (2+ / 0-)
    Recommended by:
    coffeetalk, gramofsam1

    it is the  effective rates that matter, not the freaking marginal rates. It isn't that complicated.

    You can't scare me, I'm sticking to the Union - Woody Guthrie

    by sewaneepat on Sun Nov 11, 2012 at 03:26:54 PM PST

    [ Parent ]

    •  Don't forget. Cap Gains go up to 25% or so. (0+ / 0-)

      That's part of the fiscal flip due on Jan 1, whatever you call it, already.

      Adding cap gains to income tax at income tax rates might be a possibility. I'm not sure how much income it would generate for the gummint but my suspicion is a whole lot, probably a very useful amount.  Certainly closing the loophole that allowed Mitt and others to earn income from Bain, but only taxed at CG rates. If you got it for work, you ought to pay income tax on it.

      Taxing at local rates income jiggered to be realized overseas and not taxable is another possibility.

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