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Wednesday, January 18, 2012

Do away with the Capital Gains Tax?

I got an email note from a friend today that sums up the whole push by the GOP and Right Wing to do away with the Captial Gains tax: "I just came from the grocery store and the headline in the Wall Street Journal was that Mitt Romney's tax rate was 15% which means he is getting tens of millions of dollars a year in income and paying the 15% capital gains tax rate on it. Is it any wonder that all the tax plans the Republican candidates are proposing all say do away with the tax on capital gains. Then they and their rich friends won't pay any tax at all on their incomes. What a wonderful world. Then the 3/4 of the population who don't benefit at all from capital gains can just pick up the slack." Then he said something profane, frankly, that made clear the strength of his feelings on this issue but that I won't recopy. Links: http://media.talkingpointsmemo.com/slideshow/mitt-romney-taxes; http://www.nytimes.com/2012/01/18/us/politics/facing-pointed-attacks-romney-urges-focus-on-obama.html?_r=1&nl=todaysheadlines&emc=tha2

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