The Hit Farm

by David Frum Jan 23, 2012 11:45 AM EST A capital gains tax is a tax on the transfer of capital assets. You want to keep that tax as low as possible to encourage the efficient use of assets. Which is why almost every advanced economy taxes capital First, the 2001 and 2003 tax cuts [...]

The amount of Romney's carried interest gains was not revealed as part of its tax return. It was included under the general category of capital gains. But Ginsberg revealed the amount of carried interest in a conference call with reporters Tuesday The top tax rate on long-term capital gains is currently 15%. That's why Mitt [...]