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Eliminate the Capital Gains Tax. All income should be taxed at the normal tax rate.

604 Views / Posted by Kyle Halgerson

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The problem is not necessarily that the top-tier tax rate is too low (35%, currently), but instead that people in the top-tier do not pay it. Instead, any money they make from their investments is taxed at the lower capital gains rate (15%).

By counting capital gains as normal income, it re-establishes the intent of the existing progressive taxation system.
Supporters: Kyle Halgerson, Jose Fernandez, Nathan Bouscal, Kyle Rutland, William Hughes, Timothy Suen
Opponents: None
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    Jose Fernandez

    Jose Fernandez / October 31, 2011 at 7:10 PM DT

    I would argue that both the top tier tax rate as well as the Capital Gains tax are too low. A modest 5% increase in the top tier tax rate would net billions for the country and still be far below the 50-70% highs of earlier decades. It is clear that the government (you and I) need the money and that the .5% of the rich can easily afford it.

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    Problem Taxes on the rich and super rich MUST be raised significantly.
    Every person is affected by the loss of revenue in the United States. From drying up social services, to pot-holed roads to schools that jam 2-3 grades into a single classroom; the effect is pervasive. The Bush tax cuts should have expired but the wholly bought Congress and President cannot do such things. As a people we have to demand the raising of taxes on the rich, and especially, the super-rich to bring our country back under control. This is perhaps the simplest solution to dozens of current social and economic problems.
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