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Well said. The guy also makes a good point that Buffett isn't clear what he is advocating. Does he want to raise the capital gains tax only on the mega rich o
by cjy 15y ago
Well said. The guy also makes a good point that Buffett isn't clear what he is advocating. Does he want to raise the capital gains tax only on the mega rich or raise capital gains taxes for everyone which would have a disproportionate impact on the mega rich who get most of their income from capital gains? The former wouldn't raise that much revenue. The latter would encourage people to consume instead of investing their money.
- seats 15y agoI thought Buffett was very clear - "But for those making more than $1 million — there were 236,883 such households in 2009 — I would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains. And for those who make $10 million or more — there were 8,274 in 2009 — I would suggest an additional increase in rate."