When all things in our country play out, I hope it is the "free luncher" & "freeloaders" who learn a real economic lesson. If not, then our country, our Constitution, even our nations continued existence is at high risk. A comment to an article I recently read in the WSJ stated if the socialists win, then we can look forward to another American Revolution and/or a session of states. I hope this is not true, but who knows! Remember socialists continue spending until they run out of other peoples' money!
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...
People who are irresponsible enough to want to live off of others regardless of the consequences aren't generally responsible enough to vote. It's not a matter of the takers getting to be the majority, it's a question of people on both sides who work and pay taxes disagreeing on the best ways to address social programming. I, for one, think money is best spent addressing social issues proactively, rather than incurring the full cost of not finding a solution.