THE PRESIDENCY: Attack at Arthurdale

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** On a $500,000 capital gain the tax would, as the President said, be 15%. In the case of the $5,000 stock profit made by the President or the Arthursdale homesteaders who were married, if they had no other income that year they would pay no tax at all. If they had $5,000 salary plus $5,000 stock profit, their tax would be $80 (normal) plus $140 (capital gain)—or less than 3% on their profit. If the salary were $10,000, the tax on the $5,000 profit would be less than 5%. Not unless their capital gain brought their total income to more than $20,000, when the surtax becomes 15%, would the $5,000 profiteers pay as much as the $500,000 profiteer.