In a Forbes article, Howard Gleckman provides an analysis of what would happen to taxpayers and taxes if one of Michele Bachmann's ideas for tax reform were implemented. This is especially interesting if one remembers how energetically many Tea Partiers rail against the way that the people who earn the lowest incomes frequently do not pay much, or any, income tax.
"In a revealing interview with Steve Moore of The Wall Street Journal, Rep. Michele Bachmann(R-MN) called for repealing taxes on capital gains. She also said she strongly believes that everyone should pay some income tax." Unfortunately, repealing taxes on capital gains would have some unintended (or maybe not so unintended?) consequences.
Read the Forbes article here.
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