Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

badtoworse

(5,957 posts)

9. I'm well aware that the 50% would apply only to marginal income.

Reply to Warren Stupidity (Reply #7)

Wed May 23, 2012, 09:32 AM

May 2012

The idea is particularly unfair as it relates to capital gains. The government gets 50% of my gains in a good year, but if I lose money, I get no deduction? Pretty good deal for the government!

Even now, taxing 100% of the gain in the year it is realized, but only allowing a $3,000 deuction on losses (with carry forwards) is not fair. I can live with it because capital gains are taxed at a lower rate. Tax capital gains as earned income and a limit on the capital loss deduction would be very unfair.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

13 replies

= new reply since forum marked as read

Highlight:

Let's say we combine income and capital gains... [View all] cthulu2016 May 2012 OP

actually it would sorta piss me off too hfojvt May 2012 #1

I don't think people making $80K and $80 million should pay the same tax rate. pnwmom May 2012 #2

It might have some issues. limpyhobbler May 2012 #3

I guess if you wipe out all benefits to individuals that would work. dkf May 2012 #4

What is the fascination with a flat tax rate? Warren Stupidity May 2012 #5

I don't care what Y is. Your idea sucks. badtoworse May 2012 #6

well no, the government would only take half of Warren Stupidity May 2012 #7

I'm well aware that the 50% would apply only to marginal income. badtoworse May 2012 #9

well I completely agree that flat tax schemes are bullshit. Warren Stupidity May 2012 #11

LOL. Like one DUer told me: "It's bigotry--against the RICH!". nt Romulox May 2012 #8

From those to whom much is given, much is asked in return. bemildred May 2012 #10

isn't there a way to define the difference between income and wages? Volaris May 2012 #12

And we could win the presidency and most congressional seats without the vote of a single taxpayer Egalitariat May 2012 #13