Sources: Market Watch, Bloomberg, USA Today
quote: But enough with the Obama Talking Points, okay?
quote: As for a flat tax, I'm with you on that one. But you can see how easy it will be for legislators to start out with a flat tax and then do carve-outs and breaks, in some cases because they are beholden to donors and in other cases simply because they believe certain things should be promoted (such as charitable donations, or --gasp!-- investing in industry).
quote: (1) You are NOT being "taxed at 30+ percent." That's the MARGINAL rate; your overall rate is probably 15%. Divide the amount of tax you paid last year by your income last year.(2) You just hate the fact that those fat cats are taxed at just 15%. You do understand, don't you, that those are capital gains, which the government has for a very long time should be taxed at a lower rate in order to encourage investment. Tell you what: you make a crapload of money at your regular job, then after paying regular income tax you take the net proceeds and buy a crapload of stock. Wait a year, then quit your regular job and sell a little stock at a time. Guess what? You too will be paying just 15%!