Quote:
Originally posted by Mmmm, Burger (C.J.)
Estate tax: Why is this supported as much (if not more) by people who are unlikely ever to be subject ot it? What's more, the most realisitic proposals would likely simply raise the limits of the exemption. That is, lower the rates to zero for a larger group of people, while leaving the higher rate on the rich.
K-gains: See the rest of my post--it's an effort to increase incentives to save. What's more, the k-gains rate for low-income people is lower than for high-income people.
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It's popular with many people who will never be subject to it because they believe the lies told to them by the Republicans who are in favor of its repeal.
As for the capital gains rate being an incentive to save, that's a lad of horseshit. People spend and/or save based upon many things; their tax rate isn't one of them. If you honestly believe that it's better to forgo 61 cents of gain to avoid 39 cents of tax, you are a total idiot. If that is really a valid point, then what we need is an excise tax on stupidity.
And to say that the capital gains rate is lower for people who live from paycheck to paycheck than it is for trust fund babies is, well, another strong talking point in favor of an excise tax on stupidity.
