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View Diary: Conservative pundit explains why Republicans are screwed on taxes (137 comments)

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  •  Got to end preferential 15% rate for dividends (6+ / 0-)

    That would be a 20% increase (from 15% to 35%) on divident income for the very rich, which insubstantial.  These people get millions in income from dividends.  Increase cap gains to 1/2 of the ordinary income rate.  

    The cap on deductions is a good idea if it includes everything that reduces your taxes below the ordinary income rate on AGI less the personal exemption and is coupled with an increase in the rate on investment income.

    But beware of measures to "broaden the base" or increase the zero bracket anount.

    The scientific uncertainty doesn't mean that climate change isn't actually happening.

    by Mimikatz on Tue Nov 13, 2012 at 08:26:59 AM PST

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    •  Whatever the rate - all income is taxed the same (2+ / 0-)
      Recommended by:
      mconvente, condorcet

      earned income, investments, gambling, gifts...

      No more setting up your kids with tax free or tax-deferred income for life.

    •  in other words you are saying (0+ / 0-)

      no deductions at all for anyone.

      You would be broadening the base big time. Absolutely breathtaking. Unless you don't really mean what you say.

      And a 20% increase of the 15% rate would be to 18% not 35%.

      Increasing the 0 bracket amount would REDUCE middle income taxes but would be hardly noticeable the higher up in incomes you go.

      I'm asking you to believe. Not in my ability to bring about real change in Washington ... *I'm asking you to believe in yours.* Barack Obama

      by samddobermann on Tue Nov 13, 2012 at 07:41:48 PM PST

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