I am so happy to hear that the people in the audience can enthusiastically and confidently enlighten Mr. Romney and anyone else who might be standing nearby. Yes people, the parade is forming. Here’s hoping that soon it will be marching across the land and finally our leaders will take their place in the front of the line.
h/t Chuck Schumer email:
I am curious about what Romney was saying at the end before the tape was cut off. Something about “higher income people”. Hmmmm, wonder what he was talking about. What we really need to address is the capital gains tax, in a progressive sort of way.
While it’s true that many middle-class Americans own stocks or bonds, they tend to stash them in tax-sheltered retirement accounts, where the capital gains rate does not apply. By contrast, the richest Americans reap huge benefits. Over the past 20 years, more than 80 percent of the capital gains income realized in the United States has gone to 5 percent of the people; about half of all the capital gains have gone to the wealthiest 0.1 percent.
It is very true, and probably the biggest reason we’ve had no job growth. Why create a job when you can just invest in the stock market and let your money make the money. And it’s been making a-plenty at a great low tax rate.