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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]He’s just considering proposing that for people making over a $1 million the capital gains tax rate is the same as a the ordinary income rate.

It’s a way to avoid all the ridiculous games like the carried interest loophole that lets hedge fund managers making $50 million pay tax at a lower rate than w-2 employees making $200k. [/quote]

But it should be higher, make it 1.5 mil or 1.75. [b]These low numbers hurt the average millionaire man the most. [/b]A property owner that has two or three rentals will get totally screwed. This really hits hard for families trying to build generational wealth. [/quote]

FTFY

How utterly cruel, they want to hurt the average man with 3-4 properties earning over $1M/year! Poor guy, how are his great great great grandchildren going to survive?
[/quote]

No not per year, it’s likely just once, when they liquidated the asset. It’s not salary. So everything they worked for, and paid off is basically useless.  If you have a mortgage that you’ve paid off then go to sell and pay almost 50% in tax then it doesn’t make sense numbers wise. The interest paid on the mortgage and the tax on gains plus the income from the rents make this a losing endeavor.  Why not just pass a law saying CEO’s have to be compensated in salary and cash bonuses and limit the stock they can get? Why go for a cash grab disguised as sticking it to the man. Be smarter.[/quote]

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