Capital Gains Nonsense
From Zanecorpwiki
One often hears a certain demographic say that capital gains tax should be lowered, or done away with. In some cases, this is qualified as long term capital gains, and long term can be variously defined. The long vs. short question is important--because it distinguishes between speculation and investment--but no matter how one qualifies it, this idea that capital gains should not be taxed has one fundamental weakness: the wealthy derive the majority of their income from capital gains. Unless you completely rebuild the tax system, the proposal to eliminate capital gains would reduce the effective tax rate on many wealthy individuals to close to zero as well.
- Barton Rigg, a hedge fund manager, claims that capital gains on investments held for more than 3 years should be lowered or eliminated in order to help the market. Riggs, like many hedge funders, is a Democratic supporterrefhttp://www.huffingtonpost.com/2009/02/26/will-the-taxman-cometh_n_170082.html/ref
- Should Stock the Public Stock Market be Considered an Investment?
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