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Political Discussion
Reply to "Romney Paid 13.9% Tax Rate on $21.6 Million in Income."
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[quote=Anonymous][quote]Economists would tell you that capital gains deserve a lower tax rate (some would say zero) because it is effectively money that has been double-taxed (i.e., you made your investment with after-tax dollars and then you are taxed again when you realize a gain). Personally, I disagree with the notion, but that's the policy rationale. [/quote] I don't think an economist woudl say this, if only because it's demonstrably horseshit. If you invest $1 million of capital (after tax dollars), and realize a gain of $300,000, you are NOT taxed on $1.3 million. You're taxed on $300,000 - the amount you gained, the amount you never had before. [/quote]
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