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On the rich have gone up a little bit, but well below what they were in the prereagan era. if you look back in american history, we had the most equal income equality in the 60s when we had the fastest economic growth. the two do not necessarily cancel each other out. you can t overtax people, but you can have a more level society. what should the tax rate be if it s we are looking at 39% and you add on what is new york city? 4.5%? the state is over 10%. you combined together. you are about 50%. you point out many times the capital gains rate is 20%. the taxa dividends is 20%. let me ask you this. if we do what warren buffett says and what i think we should do and we have a minimum 30% tax ....
Special interests. neil: how would you advise republicans and senator son son is going to be on later in the show. do you get from the idea when we look at the environment today and our politicians don t seem to be serious about spending, they seem to think that the public is more concerned with screwing the rich than hitting up programs. are they right? people felt that way but myself is that obama, the carry interest rate that allows hedge fund people taxed at capital gains rate, obama defended that. that is one of the big things. that is warren buffett and rich friends. this is disingenuous but the country should be rising up. neil: they are not rising up. i think this is because it s ....
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Megyn: why should we like it? it encourages investment. investment makes the economy grow. in the past, when bill clinton, president clinton, when he cut the capital gains rate, he made it more attractive to invest and grow the economy. megyn: it happens to show what happened to the revenue. the revenues went straight up. it is the golden rule of taxation. lower the rate and up goes the revenue. megyn: what is that, 96 billion in capital gains taxes, then he lowers the capital gains tax and you can see that the revenues went steadily up in terms of what the government collected. because you want to encourage investors. mitt romney has no guarantee that he s going to make a ....
Invest the money we have left over and we make money on that investment we re taxed a tax at a capital gains rate, around 15% or whatever it is and that s the thinking behind the different rates. bill: i understand. again, most people don t necessarily think about this either way. even for their own investments. they probably don t think about it. the reason romney is paying a lower effective tax rate right now is he doesn t have a salaried job with income tax, he s making money off his investments. again, politically ho it s how you handle it. bill: your hreug bigger poin bigger point is well-taken. americans are going to vote on how they feel today and the direction they are headed tomorrow. thank you, david. david drucker in washington. martha: growing criticism as the president prepares to meet with the ladies of the view while telling his key ally that his schedule may be too-jammed ....