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View Diary: Why are Republicans calling for more tax revenue but not higher tax rates? (81 comments)

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  •  Look Out!! This "Close Loopholes But Don't Raise (2+ / 0-)
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    a2nite, PorridgeGun

    tax rates" is the same old GOP BS wolf disguised in sheep's clothes. Tax rates on EVERYTHING that touches the wealthy need to increase to have a decent shot at trimming the budget deficit - that includes raising rates on capital gains, dividends, estates, and income (for the upper brackets), as well as a Wall St. transaction tax. It also should include eliminating loopholes and tax dodges (like carried interest) the wealthy benefit most from. The GOP lost the Presidential election - DEMOCRATS SHOULD NOT BACK DOWN ON THIS!!  The GOP is trying to play rope-a-dope with the Democrats and they shouldn't fall for it. Merely closing loopholes will result in the middle class shouldering the burden for deficit reduction. Screw Grover Norquist.

    •  I agree with this except for (0+ / 0-)
      ... a Wall St. transaction tax
      It is altogether too easy for the rich to avoid this. The really wealthy could conduct their transactions "off Wall street".

      All the other things you mentioned are good enough to get the job done. Classify dividends, capital gains, and carried interest as ordinary income, put a firm cap on deductions and other tax advantages, and raise individual marginal income tax rates to the 40% level.

      What is really tricky is to get legislators--who are frequently wealthy in their own right--to vote to increase taxes on the wealthy.

      You don't need a weatherman to know which way the wind blows. --Bob Dylan-- -7.25, -6.21

      by Tim DeLaney on Mon Nov 19, 2012 at 01:16:07 PM PST

      [ Parent ]

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