The Unlocked Box
Daniel Gross covers ground that, I seem to recall, we've covered here before.
Old folks is gettin' older. Payroll taxes is risin'. Income taxes is goin' down.
Why, pray tell, did we give the richest 1% of this country a massive tax cut? Why, they were going to invest it, right?
But we gave them an income tax reduction. Not an investment tax reduction. If they invest the money, long term, they were already getting a different, lower tax rate.
So why did we give a tax break on income that doesn't go to investment?
Beats me.
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Ross
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So, you approve of
So, you approve of eliminating the capital gains tax?
And remember, even though the payroll tax is (sadly) unchanged, many more than the richest 1% got a income tax cut. The richest 1% thing is getting annoying to me, because everyone who pays income tax got a cut. If you feel that screws the people who don't pay it, I can't help you there - except agree that the payroll tax is another abomination which also needs to be fixed.