General Discussion
In reply to the discussion: The Insanity Of Capital Gains Tax Breaks... [View all]eniwetok
(1,629 posts)Leaving aside the fact you seem to want some, presumably your, income getting a tax break... there are two variables in play. One is the TYPE of income... and why capital gains is treated differently... then there's the matter of the progressive tax rate.
If one's retirement is largely based on capital gains... presumably they'd be at a lower tax rate. But we also have to deal with the fact that any capital gains tax break is a gift at a time when We The People have pissed away some 19 trillion on ourselves since 1981 that we refuse to pay for. Any tax break you seem to want is being subsidized by money stolen from future tax payers who will have to pay more in taxes and get less in return... just to pay for our 19 trillion party.
We know the GOP has been determined to starve the beast since the 80's... to run up massive debt then use it as a pretense for dismantling the New Deal and Great Society. Dems SHOULD know better since this strategy poses an existential threat to their legacy... yet too many are also buying into this Free Lunch mentality... and I blame Obama for pushing to make most of Bush2's irresponsible tax cut permanent. WTF was he thinking? And why... when paying down debt was such a big issue in the 2000 elections, Dems have dropped it?