Not taxing the first $25,000 of capital gains annually would benefit new and small investors. Eliminate all tax loopholes and increase the maximum rate to 25% for those earning more than $500,000 in capital gains.
Currently super rich benefit from lower capital gains taxes, often paying lower rates in total income than middle class wage earners pay in income tax. Warren Buffet brags that he pays only around 17% in taxes each year, since his income is primarily from capital gains and is not salaried. We should take him up on his challenge to increase his taxes.
No comments:
Post a Comment