Quote:
Originally Posted by zimmy
Bingo. Some of my take on it... so guy A goes to work, makes $50,000 busting his arse in the mill or whatever and gets hit @ 25%. Multi-millionaire ceo gets $100,000 or whatever capital gains from money sitting an account and gets taxed on that at 18% (not sure what the percentages actually are). Not sure that is a reasonable policy.
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Gulp....i actually agree.
Its even bigger than that as many super-wealthy are not collecting salaries. They are buying and selling businesses, investments, etc and making cap gains which are taxed at a lower rate. AND dont forget, you can deduct losses!
Thats why we shouldnt raise tax rates across the board. It doesnt fix the problem. Fix the tax code.