Replies to post #196888 on Zeev's Turnips Patch-No Politics (ZEEV)

[James T Kirk]

Who pays the 5% rate? I can't find any circumstances where I would pay that unless I don't make much.

http://www.mfea.com/GettingStarted/LearningTopics/MutualFundsTaxes/HowCapGainsWork.asp

Then the page below which differs from the one above (someone is not giving accurate information) but seems to explain what you're talking about. Though it only applies to people in the lowest bracket which means you could only make about $30,000 and pay that rate. If you make any more you would pay a higher rate. I think Bill Gates needs to sell a little more than $30,000 a year so I don't think he's paying paying 5%.

http://www.givingto.msu.edu/pgaol/html/capital_gains_taxation.html


I used the $30,000 figure for a normal person. Actually Bill Gates could have enormous deductions so it may not really apply to him but think it's reasonable for the non super rich