badgenome on 20 September 2012
| steverhcp02 said: Also in one of the republican debates when Gingrich said he wanted to make the tax rate on capital gains 0% to which Mitt respnoded saying if that were true hed pay 0% taxes, which means........he currently pays 0% or little INCOME TAXES. Which is exactly the people he cant convince to take control of their lives or personal responsibility. Interesting. |
How do you figure that? The rate on capital gains isn't currently 0%, except in the case of long term investments for people in the very lowest tax bracket. Otherwise you're paying anywhere from 10-35% on cap gains.
In case you're confused, the cap gains tax is an income tax. It's just taxed at a different rate.
