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Tags debt , debt ceiling

Old 12th January 2013, 06:06 PM   #121
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Originally Posted by ravdin View Post
I once got a piece of advice I've never forgotten and passed on a few times myself: no one's ever gone broke from paying capital gains taxes. I don't know where you came up with those particular numbers, but at least in principle I could get behind a marginal increase in capital gains taxes.

Just so it's clear, to me that would mean that given your numbers, a person reporting $1,000,001 in capital gains would pay 70 cents more than a person reporting an even $1M.

I'd very much enjoy seeing Nancy Pelosi having to pay a progressive tax rate. Yes indeed.
A capital gains tax would work fine as far as I am concerned, but somebody needs to simulate it, because you want to know it's expected revenue, and what effect it will have on things like metals markets.
For what doth it profit a man, to fix one bug, but crash the system?
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