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In reply to the discussion: Or .... [View all]

Prophet 451

(9,796 posts)
4. It's on the right lines
Tue Nov 5, 2013, 01:27 AM
Nov 2013

I only have three quibbles. Firstly, I'd just eliminate teh Social Security wage cap entirely. That would make SS solvent forever. Secondly, I'd institute a new top tax rate of 50% on household incomes above $2.5 million. Thirdly, I'd virtually eliminate capital gains tax. By which, I mean getting rid of teh system that treats it differently to other sources of income. I'd keep teh lower rate for the money you get from selling your home (and carefully word the law to prevent abuse of that) and treat everything else as income, subject to income tax.

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