Simon Johnson: The Buffett Rule Is a Good Idea

MIT Sloan Prof. Simon Johnson

From Huffington Post

Some high income Americans pay a lot of tax; others do not. If you have right tax advice and if most of your income can be structured as some form of “capital gains,” your marginal rate — what you pay on the your last dollar of income — may be very low. The highest marginal income tax rate currently is 35 percent, while long-term (over a year) capital gains are taxed at 15 percent at most.

 

 

Read the full post at The Blog

Simon Johnson, a professor of global economics and management at MIT Sloan, is the former chief economist at the International Monetary Fund and co-author of “White House Burning: The Founding Fathers, Our National Debt, and Why It Matters To You, and 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown