all you have to know is this
EVERY TIME the cap gains tax rate has been lowered, cap gain tax receipts have gone UP
EVERY TIME the cap gains tax rate has been increased, cap gain tax receipts have gone DOWN
you want to soak the rich? lower marginal rates. it frees up capital that goes in motion throughout the economy.
guess what else
the top 1% of wage earners earn 21% of all income and pay 40% of all income taxes
the top 5% of wage earners pay more than the bottom 95% combined
THAT IS THE PROBLEM
EVERY TIME the cap gains tax rate has been lowered, cap gain tax receipts have gone UP
EVERY TIME the cap gains tax rate has been increased, cap gain tax receipts have gone DOWN
you want to soak the rich? lower marginal rates. it frees up capital that goes in motion throughout the economy.
guess what else
the top 1% of wage earners earn 21% of all income and pay 40% of all income taxes
the top 5% of wage earners pay more than the bottom 95% combined
THAT IS THE PROBLEM
Comment