Capital gains hike would apply to all

A letter writer on Monday stated that the 15 percent capital gains tax rate received by Mitt Romney and others does not produce jobs, as the precipitants buy multiple homes, have lavish parties, etc., with the capital gains from their investment. If Romney and others want to throw parties and buy other assets such as additional homes, that is their business. It is their money and nobody should tell them how to spend it.

In fact, the 15 percent capital gains tax is assessed on the initial investment that earned the dividend. This is the job- producing element, and not the dividend the writer writes about. We don't know if the investment did indeed produce any additional jobs, but we certainly hope so with this amount of investment. The writer further agrees with President Obama that all capital gains should be taxed at the 30 percent level. Well, then everybody with a 401(k) and other investments with capital gains would be taxed at the 30 percent level, even those in the lower-income brackets.

I wonder how someone in the 15 percent bracket would feel about paying 30 percent capital gains and about 15 percent or so on their ordinary income?

Ed Masar
Mill Creek