Over at Cone's, a discussion of tax policies of the two presumptive presidential nominees has revealed several things.
First, most of the Dem/Lefty/"Progressive"/Libthink /Alternately Clued crowd obviously does not understand why capital gains tax and ordinary income tax deserve different treatment. Here's a prime example.
Second, our pal Ed should know (or refuses to acknowledge) Obama's 28% figure for capital gains.
Third, none of the Obama cheerleaders/apologists have acknowledged Obama's HUGE proposed payroll tax increase by eliminating the income cap for Social Security taxes. It's the scheme he proposed before recent back-pedaling, but sure to find its way back into the deal should he fool enough people into voting for him in November.
Noteworthy excerpt from the Cato link:
"This reminds me of a conversation I had years ago with an economics professor from an Ivy League university. He told me that he once asked his left-wing colleagues whether they would support lower tax rates if they knew that tax revenues would rise. Most of them, he said, shared Obama’s viewpoint that punishing success was more important to the statist ideology than increasing revenue for government."
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