09-26-2012, 04:23 PM
- Join Date
- Jun 2008
This is, in fact, the major reason capital gains are taxed at a lower rate. Taxes on earned income are higher than those on investment income. If you are someone who earned income (taxed) and then invested it (taxed again) you are getting double taxed. That's why so many people want the capital gains rate to go to zero.
On the other hand, one can argue that some people inherit their wealth and never work, so they never work (no tax) and all they have is investment income (taxed at a low rate). It's this type of thing that creates resentment and the desire to "tax the rich."
09-26-2012, 11:11 PM
- Join Date
- Apr 2006
- Items for Sale
Let's stick to the facts and truth.
IRS data from 2010 shows someone making between $50,000 and $75,000 on average pays an effective rate of 7.8 percent
I do understand you are single and without kids so you might pay a few bucks more. Is that fair? I have never thought it was fair for a single person to pay more then a family that creates more wear and tear on the system, but that is just me.
09-26-2012, 11:48 PM
Sic Hacer Pace, Para Bellum.
Before you can do things for people, you must be the kind of man who can get things done. But to get things done, you must love the doing, not the people!
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