Two Tricks to Raising Capital-Gains Taxes Fairly: Ray Madoff
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Feb. 16 (Bloomberg) -- From Warren Buffett’s secretary toMitt Romney’s tax returns to the general uprising against the 1percent, tax reform is on everybody’s radar. In the cross hairsis the preferential treatment for capital gains.
Profits from investments are taxed at a maximum rate of 15percent, which is less than half the 35 percent maximum tax rateimposed on wages and other ordinary income. One can hardly opena newspaper or click on a blog without seeing a call toeliminate this special rate for capital gains to increasefairness and raise federal revenue.