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1 posted on 08/29/2019 7:22:32 AM PDT by SeekAndFind
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To: SeekAndFind

Why are capital gains so sacred that they, and they alone of all income types, get this special treatment. My salary is worth less every year because of inflation, but the tax brackets don’t automatically adjust downward to take that into account?

In general income earned as salary should be given all the breaks capital gains get. Most income is earned by average Americans working what ever job they have. Most capital gains go to a much smaller portion of the population.

It’s always weird that guys like Grover Norquest somehow manage to focus on the category of taxes that rich contributors have, but the rest of us not so much.


2 posted on 08/29/2019 7:29:40 AM PDT by Jack Black ("If you believe in things that you don't understand then you suffer" - "Superstition",Stevie Wonder)
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To: SeekAndFind

Here’s how the “inflation tax” works today.


The logic is flawed. same principle applies to all income.


3 posted on 08/29/2019 7:30:01 AM PDT by PeterPrinciple (Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
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To: SeekAndFind

The honest thing to do. It has ZERO chance of succeeding. Big loss for the IRS. Even Trump is unlikely to support.


5 posted on 08/29/2019 7:33:53 AM PDT by InterceptPoint (Ted, you finally endorsed. A)
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To: SeekAndFind

Makes sense to me.


8 posted on 08/29/2019 7:46:03 AM PDT by 1Old Pro
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Cruz is now co-writing articles with Norquist of all people?


10 posted on 08/29/2019 7:50:55 AM PDT by Olog-hai ("No Republican, no matter how liberal, is going to woo a Democratic vote." -- Ronald Reagan, 1960)
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To: SeekAndFind

I think this is a similar discussion, though not 1 for 1 , to the differences between a traditional IRA and a Roth IRA.

On the Traditional your not taxed now but you end up taxed on what you put in AND all your capital gains when you take it out in the future.

On the Roth your taxed on your current income, but the basis is not taxed when you take it out AND any capital gains you earn are not taxed at all when you take it out.


15 posted on 08/29/2019 9:15:23 AM PDT by reed13k (For evil to triumph it is only necessary that good men do nothing)
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