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

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  •  That's how we used to do it and how most (2+ / 0-)
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    nextstep, VClib

    countries do it: some portion is excluded from income and the remainder taxed as ordinary income.  For decades and decades until the 1986 act, 50% of cap gains were excluded from income. (effectively making the cap gain rate half of the ordinary income rate)

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