TaxProf Blog

Editor: Paul L. Caron, Dean
Pepperdine University School of Law

Monday, February 1, 2016

Clinton (47%), Sanders (54%) Propose Highest Capital Gain Tax Rates (Now 24%) In History

Hillary BernieFollowing up on Friday's post, Tax Foundation Analyzes Clinton, Sanders Tax Plans:

Political News, Tax | Permalink


The Clintons supported the Iraq War, had a love fest with Wall Street, and put more African-American in prison than any other administration. Now they're "progressives." I've never seen such falseness in anyone, anywhere, anytime. And I teach law school

Posted by: mike livingston | Feb 1, 2016 4:14:06 AM

mike livingston:

I believe Hillary Clinton's vote in favor of the 2003 Iraq War disqualifies her from the Presidency. It is clear that the sole reason for this vote was because she thought at the time that it would be the popular thing to do -- simply repulsive.

Posted by: anon. 25 | Feb 1, 2016 6:36:10 AM

Remember China-gate from 1996? Then President Bill Clinton authorized the sale of sensitive US technology to China and Chinese money was donated to his re-election campaign!

Was Hillary playing the same game, selling US secrets delivered via a private server with weaker security than the Ashley Madison website in exchange for "donations" to her "charitable" foundation?

It is time to look past the server itself to what may be the biggest spy scandal in US history!

Posted by: Michael Rivero | Feb 1, 2016 6:50:15 AM

Again, it would be cool to have like buttons on this blog. Because I "like" all of the above comments.

Posted by: Dale Spradling | Feb 1, 2016 7:30:01 AM

Because the Section 121 $250k/$500k exemption for home sale has not been indexed from inflation for 19 years, home sellers in high-cost areas can have high taxable gains even when they are just moving to a similarly price house in the next town. Current marginal tax rates for this gain approach 40% in California. If the combined rate goes to 50% or 60% the real estate market in high-cost areas will freeze, with a noticeable fraction of potential sales simply not happening until the owners die. Encouraging homeowners to die is an unusual way to reduce the nation's medical costs.

Posted by: AMT buff | Feb 1, 2016 9:12:48 AM

I'm pretty sure its been proven that the higher the cap gains rate, the less tax revenue it brings in. Its guys like Buffet, Soros, Zuckerberg etc., who pay themselves $1 salaries because they live off dividend income and pay a whopping 20%. I say jack those rates up to eleventy and watch investment capital start drying up and the aforementioned billionaires whine.

Posted by: Hoosierdaddy | Feb 1, 2016 9:55:57 AM

(1) WAR costs MONEY. If these "capitalists" don't want to PAY for the wars from which they PROFIT and which protects THEIR property they need to STAND UP and stop the wars.
(2) The RICH benefit far more because they have so much MORE material goods to protect. Therefore a FAIR tax on all their massive wealth (1% "owns" 50+% of the wealth) would be MUCH higher. If they don't like it they can put on a uniform and GO FIGHT.
(3) Why does no one ever point out that INCOME is not WAGES or SALARIES. INCOME is the dividends, interest, CAPITAL GAINS, on stocks and investments and as such, true INCOME is what is SUPPOSED to be taxed. NOT WAGES.

Posted by: albert | Feb 1, 2016 10:50:23 AM

AMT Buff - good observation. All those things will come to pass "unexpectedly"

Posted by: Just Mike | Feb 1, 2016 11:19:26 AM

I almost wish they could get their taxes. It would be fun to see their explanations as to why investment and risk taking dried up and why new startups dried up. It would be fun to see them explain why the economy cratered. And, it would be really fun to see their explanation as to why total tax revenue declined.

That would all turn out to be a surprise to both candidates and to liberals everywhere. But, we would all suffer.

Posted by: Rick | Feb 1, 2016 12:12:33 PM