July 3, 2012
CBPP: 10 Things You Need to Know About the Capital Gains Tax
Center on Budget and Policy Priorities: 10 Things You Need to Know About the Capital Gains Tax:
1. Capital gains tax rates are the lowest since the Great Depression.
4. Capital gains are highly concentrated at the top.
7. The capital gains tax preference is a major reason why the tax code violates the “Buffett rule.”
8. Tax preferences for capital gains are inequitable.
9. Tax preferences for capital gains are costly.
10. Raising capital gains rates would have little or no impact on most elderly households.
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Posted by: Will McBride | Jul 3, 2012 3:48:33 PM
CBPP is wrong with regards to the top rate in 2013. It will be 23.8% when you include the new unearned Medicare contribution in Obamacare.
They will likely try to ignore that and claim it is a payroll tax, but that's pretty misleading.
Regarding the tax preferences for capital gains taxes being inequitable, that's a pretty normative statement. There are reasons behind the preferential rate that CBPP doesn't really address.
Posted by: anonymous | Jul 3, 2012 5:32:35 PM
Does anyone else feel like items #4-7 are saying the exact same thing?
Posted by: George W Christ | Jul 5, 2012 8:37:14 AM