And once again, I remind folks... The lynchpin for the "bush tax cuts" is giving a 50%+ discount to income earned as capital gains vs. ordinary income. If you believe (as I do) that having SOME incentive to encourage long term investment -- what is an appropriate incentive? I know for me a 25% discount from ordinary income would be sufficient to incentivize me plenty well.

So WHY is it helping the economy to have a DOUBLE discount for this relatively elite deduction? Advocates claim it encourages job creation/investment, but I just don't see how the second 25% changes the calculus. It's just a gift.
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The charm of fishing is that it is the pursuit of what is elusive but attainable, a perpetual series of occasions for hope. -John Buchan