In response to:

Buffett Boosts Own Morale with Hypocrisy

AliveInHim Wrote: Nov 30, 2012 4:37 PM
Dorothy, for the umpteenth time the 15% rate is on INVESTMENT INCOME. The money going into the investment account has ALREADY been income taxed at 33% (or whatever the rate is for that level of income). In other words, what you actually EARN by WORKING is first taxed, then any interest you make on after-tax money you invest in savings, bonds, or stocks is ALSO taxed but at a lower rate. In essence, Buffett and others like him are taxed TWICE on the same money. Please tell me what's moral/Constitutional about that?
AliveInHim Wrote: Nov 30, 2012 6:39 PM
Thanks John for the clarification. I guess I should have added for Dorothy's benefit that total tax paid on wages and interest (assuming profit on investment) is essentially 50%.
JOHN1464 Wrote: Nov 30, 2012 5:42 PM
The capital gains tax only taxes the profit from the investment. So the same money is not taxed twice. If you lose money on your investment you pay no tax.

The government revised upward its initial reading of third quarter GDP from 2 percent to 2.7 percent in a move that was widely expected by economists.

And everyone said “yawn.”

That’s because the GDP growth was more government puffery. The increase was borrowed or freshly minted money. The government merely accelerated spending, filing one hole, while digging another- deeper- hole, in Obama’s latest 60-year-same-as-cash financing offer.  

At least that’s what the markets have felt apparently- reacting with shrug to another wave of “good” news coming out of the government about how great things are for the folks back...

Related Tags: Hypocrisy