Originally Posted by persim
The situation is completely different. At some point in time said rich guy had income that was taxed at the proper income/payroll rate like everyone else. He then uses this money that has already been taxed to invest in a company. He makes money on this investment and pays the proper tax rate for investment income.
These our the rules of our current system. Whether it is fair or not is a different debate but every person in America has the ability to do what this rich guy has done with his money. As I stated above, I favor a flat tax on all income of 18-22% for everyone with no loopholes, deductions, credits nor exceptions. This is completely fair to me because everyone is treated equally.
This is our current tax code. I didn't write it and I don't agree with it. But you and many others appear to upset with wealthy people just because they are wealthy. They follow the same rules as everyone else regarding marginal income tax and investment income tax. Money doesn't appear out of thin air. At some point in time money was made and was taxed at the marginal rate. They then invested that money and pay taxes on that as well.
Do capital gains tax decreases help people with money invested? Sure they do but they help everyone who has investments. Myself and my entire family(all middle class by the way)received tax decreases when the capital gains tax was lowered. As stated before everyone has the opportunity to invest. You appear to be upset because these people have invested their money wisely.
I get it, the top 400 ALL had jobs at Mcdonalds.... Not one of them did. You say you would be willing to have a flat tax of 18-22%, yet, say that I dislike the rich? BTW, the effective tax rate (what they actually pay) is below 18%. I don't hate the rich, I hate that they pay to have tax laws enacted that direclty benefit them. Yes, anyboidy can invest. Not everyone can invest where 75% of their income comes from returns on those investments. In fact, MOST Americans live paycheck to paycheck, and cannot invest. Most Americans could not come up with $2,000 to cover an unexpected emergency. I don't hate the rich, I hate that I pay a FAR HIGHER percentage of MY earnings in taxes than they do.