“THAT my friend is one of the problems with the tax code. All us little folks are being taxed at a higer rate because we get paid on income; the rich make their money from dividends and capital gains, so they pay a lower rate. “
Last time I heard this argument I heard it coming from President Obama in a class warfare argument to raise the capital gains tax to 28%. Are you suggesting we raise the capital gains tax and discourage capital investment to achieve growth?
Not at all, see my subsequent posts. I wasn’t making an argument either, just pointing out that capital gains and salary are taxed at a different rate; that is the reason for the disparity. I do think its unfair and absurd, but I favor a massive slashing of the federal budget, a concomitant reduction in all tax rates and/or a repeal of the income tax altogether - not a rate increase on investment capital, surely not.