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View Diary: Senate deals on fiscal cliff, House action pending (296 comments)

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  •  We Need HIGHER Capital Gains Tax Rates! (3+ / 0-)
    Recommended by:
    Albanius, J M F, bdop4

    The income for the top .1% is almost entirely long-term capital gains. That's why treating capital gains as ordinary income is so important.

    Capping total income subject to tax at 39.5% as in the Clinton era is at least a step in the right direction.

    That's the part that's objectionable. The capital gains tax rates were always too low of course, the top marginal rate should be at incomes over $10,000,000 and it should be 90% not 20%! Hell, they could make it $20,000,000 and it wouldn't matter. It would still hit the Koch brothers which is what's important.

    We can NEVER get our democracy back until we take away 90% of their unearned money and redistribute it to the middle class in the form of benefits, infrastructure development and a direct government industrial program designed to produce full employment.

    We can't do any of these things as long as the super-rich can create their billion dollar empires that are immune from taxation.

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