U.S.A
I heard the republicans are trying to eliminate tax altogether. Check it out.
Quote:
A BILL
To amend the Internal Revenue Code of 1986 to allow the private sector to create robust levels of economic growth.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the `Economic Freedom Act of 2010'.
SEC. 2. ZERO PERCENT CAPITAL GAINS RATE FOR INDIVIDUALS AND CORPORATIONS.
(a) Zero Percent Capital Gains Rate for Individuals-
(1) IN GENERAL- Paragraph (1) of section 1(h) of the Internal Revenue Code of 1986 is amended by striking subparagraph (C), by redesignating subparagraphs (D) and (E) and subparagraphs (C) and (D), respectively, and by amending subparagraph (B) to read as follows:
`(B) 0 percent of the adjusted net capital gain (or, if less, taxable income);'.
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http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.5029: