1: how are you republican? The whole premise of the republican argument right now, is they will not raise the tax rate of the upper class to match that of every other class and specifically will not entertain the concept of a flat tax...<quoted text>
Wow - you can sustain a tantrum longer than any 6-year-old I know.
1) You have no clue what my view on tax rates is. It so happens I favor a flat tax, with every American above the poverty line paying the same flat tax rate on income, regardless of income. I want a 1-page federal tax return: Line 1 - how much did you make? Line 2 - Take 17% of that. Line 3 - Send it in. No deductions, no loopholes - AT EITHER END OF THE INCOME SPECTRUM. The whole Tax Code should not take more than 20 pages.
2) The "rich" don't pay a different tax rate than the rest of us. That's class warrior bullsh!t. Yes, Capital Gains are taxed at a different rate than ordinary income. Serfdom is voluntary in America - any American with $50, rich or not rich, can buy shares in Exxon Mobil on a DRIP plan. Only fools choosing serfdom do not.
3) There are good reasons for treating capital gains income differently than ordinary income for taxation purposes. Investors put capital at risk of total loss of their investment - wage earners do not take such risks. The nation needs capital - if capital is not rewarded or if returns on capital are taxed excessively RELATIVE TO OTHER NATIONS, it flows out of the US, and ALL AMERICANS LOSE. Rant your class warrior rants all you like - but that's the hard reality.
Get over it.
2:the rich do pay a different tax rate than the rest of us, thats the entire point of tax brackets. And more than that, depending on income the higher earners get larger tax breaks. Under the paul ryan plan, the 6 tax brackets are removed to just two, High or low income earners, and high income earners receive a much larger tax break and lower tax rates than they currently have (dropping their tax rates by 10% and giving an additional $170,000 tax cut to the upper 20% while taking $159 more from lower income earners) To say that the rich don't pay a different rate...is just ignorant or stupidity...
3: I actually agree with you, however the current system for capital gains needs to be highly reformed