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View Diary: Addicted to Wealth: Why More Is Never Enough (150 comments)

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  •  We should not just have higher marginal rates (4+ / 0-)

    that begin at $750,000 or $1 mill (and note, it is ONLY the income above that level, after deductions,  that is subject to the higher rate) but even more important to tax dividend income and carried interest at ordinary income rates not the 15% preferential rate)  and to have steeper estate taxes, especially on estates over $10-20 million.  And raise capital gains tax at least back to 20% or, better, 25%.

    What I would like to see is what we had in the 1960s when I started paying taxes when we had an exclusion for the first $600 in dividend income, then the rest was taxed at ordinary income rates.  We could have an inflation-adjusted $3000 exclusion now, which would cover a stock portfolio of $100,000 to $150,000 invested in good dividend producing stocks, amounting to an upper middle class tax cut.  The people with more pay at ordinary rates on the rest of their investment income.

    Don't bet your future on 97% of climate scientists being wrong. Take action on climate now!

    by Mimikatz on Mon Jan 20, 2014 at 10:21:11 AM PST

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    •  Now if we could only get our politicians to pick (0+ / 0-)

      up on your ideas! :)

      Some people fight fire with fire. Professionals use water.

      by Happy Days on Mon Jan 20, 2014 at 01:26:50 PM PST

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    •  I agree with this even though it would hurt me. (0+ / 0-)

      But here's the thing; if I could get a friggin' job I wouldn't live on the investment income anyway.

      I tried to go online to find a similar bear head...but when I searched “Big Bear Head” it gave me a San Diego craigslist ad entitled “Big Bear needs some quick head now” and then I just decided to never go on the internet again.--Jenny Lawson

      by SouthernLiberalinMD on Mon Jan 20, 2014 at 03:56:42 PM PST

      [ Parent ]

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