Why are your earned wage taxed more than those, like Romney, who invest for a living. [View all]
Think about it. Wages and Salaries are taxed at the regular incomes tax rate while Capital Gains and Dividends are treated differently and have caps on how much these kinds of income can be taxed.
Why do you think Romney, and those like him, were able to amass a huge fortune while the rest of use Wage Slaves are treading water.
This all happened when Capital Gains taxes were given special treatment starting in 1986 because you held the investment for an amount of time and no one, the theory goes, should be taxed on inflation.
Well, the income level that sets the floor for our tax rates are indexed for inflation so there should be no special treatment for Capital Gains or, for that matter, dividends.
The poor schlubs that work for a living can't catch a break. Guys like Romney have scorched earthed our economy so that million of people have lost any opportunity to get ahead of the game.
And to top it off, the person still lucky enough to have a good job and making a decent wage are paying taxes at a higher rate than guys like Romney.
So these people at the top do everything they can to divert their income to capital gains and walk away paying, at most, about 20%, and at best, 15%.
God Damn it, a dollar is a dollar no matter how you earn it.
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