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Sunday, September 23, 2012

Democratic Underground: Why release an average figure way back to 1990? Because CG tax was 29% till 1997

"Romney has released this average over 20 years to say "look, I've paid plenty - an average of over 20%!". But with the top capital gains tax rate at about 29% from 1990 through 1996, 21% 1997 through 2002, and then dropping to about 16%, you can see that, even if the "never below 13.66%" claim is correct, he'll have paid about 14% ever since the top rate dropped in 2003, and his average tax rate only gets up to 20% when you take into account the 1990s - the era of the tax rates that we'd like to see the top rates going back to. "

Why release an average figure way back to 1990? Because CG tax was 29% till 1997 - Democratic Underground:

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