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BrettJ · 07-23-2002, 03:11 PM

capital gains taxes are more progressive than a flat income tax.

buy a painting valued at 1.5 million dollars - sell that painting for 2 million. Would you rather pay taxes on all 2 million of that - or just 500k profit you actually realized?

~brett

07-23-2002, 03:11 PM
BrettJ ol' timer Industry Role: Join Date: Jan 2001 Location: Seattle WA Posts: 4,715	capital gains taxes are more progressive than a flat income tax. buy a painting valued at 1.5 million dollars - sell that painting for 2 million. Would you rather pay taxes on all 2 million of that - or just 500k profit you actually realized? ~brett