RE:RE:RE:RE:RE:God bless farmersDivChase wrote: Jeeze man. No one said capital gains taxes should be eliminated did they??
Well, they are 15% (a little less actually) for that farmer example with a 4 million capital gain....
They are 15.8% of a 340k capital gain reported by a worked who makes 117k at his job....
If that worker took the year off from his job...he'd pay 11% of his 340k capital gain...
That's the federal tax...
Everybody seems to be outraged at capital gains tax rates.....so how much less do you think they should be??? Pick a number! Employment income is taxed at a higher rate (17.7% for somebody making 111,733 a year). Maybe you'd like to explain to that worker why he should pay tax at a higher rate than an investor...and explain to him why you think that delta should be greater. Oh, to be a "fly one the wall" for that conversation...;););)