A lesser tax rate is paid on capital gains because the money used to buy stocks and later sell them (hopefully for a capital gain) has already been taxed. The money is being effectively double-taxed. Don't blame the rich, blame the government.
there is built into the system ways to keep the rich rich, and the rest of us scurrying up behind just trying to catch up....with a few exceptions, most won't be able to....
Not everyone will be rich, because the new age we live in values intelligence in disproportionate weight to work ethic.
Gone are the days where a hard-working person of average intelligence could work at a unionized factory job 60 hours per week and make $80K per year. Now you need to be in the right-hand portion of the IQ bell curve, because technology has increased the pace and the IQ-demand at which we work. Those of average/below-average intelligence are getting pummeled now, because the muscle work is being farmed out to China. Brain work is what pays nowadays and by definition, few people are in the top 20% of the IQ bell curve, which is where the high-paying jobs are now.
think of all the taxes the middle class is burdened with...property,income,SS,Medicare,fees for this and fees for that...
Those who make six figures pay every fee that the middle class pays, and more. We have a progressive tax system, i.e. the more you make, the more the government takes. My tax bill makes me gag every year. I am particularly nauseated by those who pay no taxes and get refundable tax credits.
the rich avoid income tax, their contribution to SS in relation to what they make is tiny and they write off every fee and property taxes on all their ownings..
I make the maximum contribution to SS each year. It is well-documented that high-earners pay way more into SS then they get out. My property taxes are written off only to an extent. Once your income gets above $150K or so, many of your deductions (including property tax) are reduced. Trust me, the top 10% of earners are paying 50% of the tax bill in this country. Now, how could that be the case if they get to "write everything off"?
when they start taxing "golf" business trips instead of claiming it as a business "expense"...I'll know we're finally getting serious...
Well, I don't play golf and the rules for expensing business items are pretty strict. You need to vote Democrat to teach all the "rich" a lesson. Nancy Pelosi is your ticket to vengeance.
The class envy here seems to trump conservative values. Sad - and so uninformed.