So compelling. You should tell him your idea. I'm sure all of the other millionaires would gladly hand over the extra cash if he would just take the first step.
imagine they did, do you think the positives of the government having that money to spend would outweigh the positives of the millionaires spending or investing it the way they would otherwise? really the last thing you want is for the government to have more money than they need for the basics. they get way too excited and have all sorts of crazy ideas and we end up with things like health care and social security, massive, economy-mangling, people destroying programs that restrict the economic growth of america, and in turn, the world, generally reducing the well being and prosperity of billions.
Me, too. It means we're making money, bro. Not exactly. I'm saying that the capital gains tax break for the rich costs the country $700 billion in income year. Thats $7 Trillion dollars in lost income since 2000. Don't you imaging that this is a major reason that we are so deep in debt, coming as it did during a time of two endless wars, The Trillion-dollar Medicare Prescription Drug Plan, the financial collapse, and the economic collapse? And the rich did not create jobs for the middle class with this wealth. They just invested it and widened the gap between themselves and the middle class. Remember this when you try to blame Obama and the poor people for all of our debt problems. Debt comes from too much spending and too little income and must be attacked from both ends. Exactly, and they could pay their fair share of taxes on the roundoff errors on their yacht expenses.
First of all your numbers are off by about 5.7 trillion dollars. Secondly you can't safely assume that realization rates would have been the same had capital gains been taxed as ordinary income.
