Via Going Concern: Tax the Rich!!!!!
... or not.
We saw what you did, George Bush.
Tim Geithner is coming for them capital gains, bitches, might be time to take cover (but um maybe not in Switzerland).
Don’t Mess With Taxes had an interesting piece over the weekend on populist rage - you know, angry mobs with pitchforks ready to come after the first Goldman rat who even whispers the word bonus - and some interesting numbers to chew on, specifically when it comes to taxing the rich:
The top income tax rate of 35 percent is the lowest it’s been since 1992. For a good chunk of the 20th century, the wealthiest U.S. taxpayers handed over much more (90-plus percent from 1950 to 1963) to Uncle Sam.
Capital gains rates also are at historic lows. And richer folks tend to take advantage of capital gains (and losses) more often than the general populace since wealthier individuals usually are more active investors.
Read the rest over at Going Concern. And try not to get too outraged over there, killer.