One of the tax changes in the just-passed bill to avert the so-called fiscal cliff, writes Sheldon Richman, is a rise in the long-term capital gains tax for upper-income people (over $400,000 for single filers). During the George W. Bush years, the tax on capital gains (and dividends) dropped to 15 percent. Under the new law the tax will rise to 20 percent for those wealthier taxpayers. During the recent controversy over taxes, some people wondered why capital gains should be taxed at a lower rate than ordinary wages and salaries, the top rate on which is now 39.6 percent. Is this a favor to the rich or does the difference have a basis in sound economics?
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After eight years, Tyson Timbs finally gets to keep his Land Rover—once and for all.
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Arkansas cops love this insane practice they call "precision immobilization technique"—slamming into moving vehicles, sometimes over simple traffic stops.
Why is it so hard for him to just admit he was wrong?
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There will be no justice for Onree Norris.