In response to:

Capital Gains Taxes

ericynot Wrote: Oct 03, 2012 3:01 PM
Horrib, Are you telling me you think there is $17 trillion (actually that's just current debt -- long term obligations are much higher) worth of royalties in shale oil? No way, Jose. If you have any documentation to the contrary, I think everyone here would love to see it.

One of the many false talking points of the Obama administration is that a rich man like Warren Buffett should not be paying a lower tax rate than his secretary. But anyone whose earnings come from capital gains usually pays a lower tax rate.

How are capital gains different from ordinary income?

Ordinary income is usually guaranteed. If you work a certain amount of time, you are legally entitled to the pay that you were offered when you took the job. Capital gains involve risk. They are not guaranteed. You can invest your money and lose it all. Moreover, the year...