"Unearned income" is simply an American euphemism for European socialist ranting against the "rentier class".
Uh, no. It's a legal term incorporated into tax code.
http://www.investorwords.com/5141/unearned_income.html
I know that it's a legal term, and that it is part of the tax code. Just because the government says so doesn't mean that it has moral legitimacy. Taking risk is work, and income derived from risk-taking is earned.