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He is paying, of course, taxes on his dividend. s. and it is a huge differencial and people are saying that is not fair. if we are truly serious about addressing deficit spending and serious about tax not the taxing people who make 250, well, certainly you can understand we we would tax people who make more than a million. chris: paul, your reaction to the millionaire tax in particular and in general to what you are hearing about the president s deficit reduction? old bad ideas are new again. this is how we got the alternative minimum tax which now hits minimums, maybe even 10 to 15 million middle class taxpayers. we got it because in 196 they said millionaires aren t paying taxes. put minimum tax on. that is what always happens when they say we want to tax the rich. there aren t enough rich to go around or finance the deficit so you end up hitting the middle class. ....
Multibillionaire said i end up because i get so much of my none any from capital gains i end up paying a lower effective tax rate than my secretary who gets her money in salary. what about the question of salary, sir? what he forgets to mention on that, that is a double tax. capital gains and dividends are money that has been taxed before based on income. the first level of tax on the money. then capital gains and dividends tax you are paying the tax again on the money that earned this. we have done this before. raised capital gains taxes and dividend taxes. we hurt economic growth. we stifeled investment in our economy. if we tax investment and job creation more you will get less of it. like i said, this looks like to me not a very good sign because t looks like the president wants to move down the class warfar path. that will divide the country more, attack job creators, ....
Multibillionaire said i end up because i get so much of my none any from capital gains i end up paying a lower effective tax rate than my secretary who gets her money in salary. what about the question of salary, sir? what he forgets to mention on that, that is a double tax. capital gains and dividends are money that has been taxed before based on income. the first level of tax on the money. then capital gains and dividends tax you are paying the tax again on the money that earned this. we have done this before. raised capital gains taxes and dividend taxes. we hurt economic growth. we stifeled investment in our economy. if we tax investment and job creation more you will get less of it. like i said, this looks like to me not a very good sign because t looks like the president wants to move down the class warfar path. that will divide the country re, attack job creators, ....
Multibillionaire said i end up because i get so much of my none any from capital gains i end up paying a lower effective tax rate than my secretary who gets her money in salary. what about the question of salary, sir? what he forgets to mention on that, that is a double tax. capital gains and dividends are money that has been taxed before based on income. the first level of tax on the money. then capital gains and dividends tax you are paying the tax again on the money that earned this. we have done this before. raised capital gains taxes and dividend taxes. we hurt economic growth. we stifeled investment in our economy. if we tax investment and job creation more you will get less of it. like i said, this looks like to me not a very good sign because t looks like the president wants to move down the class warfar path. that will divide the country more, attack job creators, ....