Taxes and the black one
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idk
It sounds like he doesn't know as much as I'd like him to know about taxes... but I still think that although the article claims that nearly 50% of tax returns filed in 2005 claiming capital gains were in household in his "middle class" 200k income cap, the amount of money being claimed by that 50% is probably WAY lower than the other 50% (who the WSJ caters to). Meaning that the middle class would still be paying lower taxes and the upper class would still be responsible for more of the nations financial burdens.
Thoughts? -
QUOTEIn 2005, 47% of all tax returns reporting capital gains were from households with incomes below $50,000, and 79% came from households with incomes below $100,000.
this is a pretty bullshit quote. even though those households were reporting Capital Gains, the total proportion of revenue from those households is probably far, far smaller than the mere number of contributions would imply. it's like saying that tax breaks don't disproportionately help the rich because 99% of tax payers aren't in the top 1%: it's so obvious it's almost tautological. -
I agree. They caught him on a technicality. His Capital Gains tax is clearly directed at people who have serious capital gains. ur dur. The real criticism here is that the money that's being taxed by the capital gains tax has already been taxed once. People think this isn't fair and I can understand why people feel like this is stage one of some crazy socialist agenda he's cooking up.
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