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[quote=Anonymous][quote=Anonymous]Whether investment income should be taxed at a higher or lower rate than 15% and whether it should be taxed at a higher or lower rate than non-investment income should not turn on the small percentage of extremely wealthy people in the country.  He's rich and now makes most of his money by investment. I already know that. I can guess that a lot of his income is taxed at 15% now. He follows the tax laws, I have no doubt, he's smart enough to do that.

So, again, I don't care one whit if his personal rate is at or slightly below 15%. Good policy for the country on these questions doesn't turn on what he makes.[/quote]

The justification of low capital gains and dividend taxes is that it increases investment.  I am skeptical that we are getting much for that.  Very little of the capital gains and almost none of the dividends are from new stock issues, so very little represents new cash invested into a company.  I think it mostly inflates stock prices because it increases the expected after-tax value of the investment.  [/quote]

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