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To: muawiyah
If you pay capital gains taxes you are paying federal personal income taxes.

See Form 1040 U.S. Individual Income Tax Return 2011, line 13.

140 posted on 09/17/2012 7:44:34 PM PDT by Cu Roi
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To: Cu Roi
You earn $30 million in capital gains they want to know more than your 1040 will accommodate ~ plus it's written up in a different section of the law.

The constitution was amended to authorize income taxes ~ from any source ~ but for most of my life there's been an invidious differentiation between wages earned by the poor and dividends accepted by the rich ~ mostly for the purpose of defeating the effect of the personal income tax rates on the rich.

Time to end the class war!

176 posted on 09/17/2012 7:52:52 PM PDT by muawiyah
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