[muawiyah]

You earn $30 million in capital gains they want to know more than your 1040 will accommodate ~ plus it's written up in a different section of the law.

The constitution was amended to authorize income taxes ~ from any source ~ but for most of my life there's been an invidious differentiation between wages earned by the poor and dividends accepted by the rich ~ mostly for the purpose of defeating the effect of the personal income tax rates on the rich.

Time to end the class war!

[Kansas58]

you are an economic illiterate.

If we tax all income the same, we will RUIN investment incentive and crash the economy.

[okie01]

...but for most of my life there's been an invidious differentiation between wages earned by the poor and dividends accepted by the rich ~ mostly for the purpose of defeating the effect of the personal income tax rates on the rich.

You do realize why there is a distinction between ordinary income tax and capital gains taxes, don't you?

The latter has already been taxed at least once!

And "defeating the effect of personal income tax rates" on investment income isn't limited to just "the rich". A large number of middle class folks and retirees benefit, as well -- justifiably so.

Damn right it's time to end the class war...

[BrianE]

Then why did the Revolution start? were they not being imposed a tax by the British? just saying.