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Why are millionairs sacred cows for the GOP and have lower tax rates than the rest of us?

Update:

If the maximum tax rate on a taxpayer's wages is 15 percent or less, long-term capital gains are taxed at 0 percent

www.ehow.com/info_7980470_taxes-capital-gains-vs-wages.html#ixzz298AefFV0

Update 2:

If the maximum tax rate on a taxpayer's wages is 15 percent or less, long-term capital gains are taxed at 0 percent

www.ehow.com/info_7980470_taxes-capital-gains-vs-wages.html#ixzz298AefFV0

8 Answers

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  • Anonymous
    9 years ago
    Favorite Answer

    Democrat millionaires pay the same tax rate. You know that, right? Right?

  • Don M
    Lv 7
    9 years ago

    The top 1% pay almost 40% of all income taxes.

    Capital gains should be taxed at a lower rate, because that money has already been taxed before it was invested.

    Low capital gains tax rates encourage investment and job creation.

    You should learn how to spell "millionaires"--they make our economy grow.

  • ?
    Lv 4
    9 years ago

    If you wish to live in that utopian; "Level economic playing field" being promoted by the Obama liberal socialist agenda, I suggest you move to Communist North Korea, or Red China. They actually have a government controlled; LEVEL PLAYING FIELD economically, where you will not have to be jealous of any; "Sacred cows", other than the Politburo, and party bosses. By the way, you miss-spelled the word ...millionaires.

    Source(s): A knowledge that free enterprise is what has made America thrive and be great.
  • 9 years ago

    1. Every rich person I have ever known was a Democrat.

    2.Learn how the tax code works because it is obvious you don't. No person EARNING more than you is paying a lower rate. There is something called double taxation.

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  • 9 years ago

    The folks, voting for Obama to get 'free' stuff, don't work. So, raising taxes makes sense to them ~ more free stuff. That's why these folks don't care about lowering taxes on the working class and entrepeneurs to help create jobs.

  • Anonymous
    9 years ago

    Who told you that rich guys pay less tax than the rest of us? RU a college kid?

    Source(s): Reality - Awareness of!
  • Scot
    Lv 5
    9 years ago

    Hmmm..... why would Romney (worth about $250 million) and Ryan (worth about $5 million) favour the rich?

    That's a tricky one.

  • ?
    Lv 7
    9 years ago

    They aren't and they don't and it has been explained a million times here. Try google.

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