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View Diary: Do YOU understand how tax brackets work??? (25 comments)

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  •  The same is true with the Capital Gains rate... (1+ / 0-)
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    palantir

    I don't know how it works in the US, but in Canada the Capital Gains rate doesn't mean you pay X% on the entire gain.  It means that % is taxed as regular income.  So if the CG rate is 15% and you made 100k, only 15k would be considered taxable and would be taxed at the 10k to 20k rate or $2,250 on a $100k return.

    Tax and Spend I can understand. I can even understand Borrow and Spend. But Borrow and give Billionaires tax cuts? That I have a problem with.

    by LiberalCanuck on Tue Nov 20, 2012 at 07:51:08 AM PST

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