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View Diary: Obama promises liberal groups he'll end Bush tax cuts for wealthy (142 comments)

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  •  Cap. gains and dividends are not only for wealthy, (1+ / 0-)
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    ... they cover some of the middle class. I don't think the President is talking about all of the aspects of the Bush tax cuts. He is - or at least, was - talking about rates.

    FORWARD to 2014: Win back the House. Build up the Senate.

    by TRPChicago on Tue Nov 13, 2012 at 02:42:52 PM PST

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    •  true -- but the big payouts are for the really (3+ / 0-)
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      Aspe4, MPociask, Laconic Lib

      wealthy. I think they should roll them into income and the higher tax rates for those with income above $250,000 no matter what the source of the income is.
      If someone makes $250,000/year, why should they pay less on the part of it that they didn't actually work to earn?

      We're not perfect, but they're nuts! -- Barney Frank

      by Tamar on Tue Nov 13, 2012 at 03:47:25 PM PST

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      •  That may be the solution, although I'd wager ... (1+ / 0-)
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        ... the threshold will be higher than $250K in any event. Certainly higher if you were to roll in preferential rates for long term capital gains and dividends.

        My bet is that Obama will not do that. A higher rate for those two components - say, 20% - might be preferable to capping their effect, but I doubt even that will be the result.

        The President will not want to look like he's penalizing investment. The argument is that investment is favored by the 15% rate on dividends (already taxed at the corporate level) and capital gains (in theory, money left to work for its multiplying wonders, rather than just for short term gain) much more directly than this crap about higher rates in the top brackets limiting trickle-down/job creation.

        FORWARD to 2014: Win back the House. Build up the Senate.

        by TRPChicago on Tue Nov 13, 2012 at 06:05:12 PM PST

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    •  I'm pretty sure the capital gains rate is lower (0+ / 0-)

      now than it was under Clinton.  So, for incomes over $250,000, the capital gains rate would go up.  For incomes under $250,000 it would stay the same.

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