4 ms·
I'm hopelessly naive about taxes in the US (I'm not from the US). How much more money (in dollars) are we talking about here?
by funkeemonk 14y ago
I'm hopelessly naive about taxes in the US (I'm not from the US). How much more money (in dollars) are we talking about here?
- sp332 14y agoThe IRS currently collects $1.1 Trillion/year in personal income taxes. http://www.irs.gov/taxstats/article/0,,id=102886,00.html http://www.irs.gov/taxstats/article/0,,id=102886,00.html There are progressive "tax brackets" https://en.wikipedia.org/wiki/Income_tax_in_the_United_States#Year_2012_income_brackets_and_tax_rates https://en.wikipedia.org/wiki/Income_tax_in_the_United_State... but to incentivize long-term investments, you might be able to claim some of your income as "capital gains" which is only taxed at 15%. So the change in revenue from taxing capital gains at a higher rate really depends on how much income is being claimed as capital gains right now.