"It's because most of their income comes from capital gains,"
From the war over "fixing the tax system" comes the argument that the super-wealthy's low tax obligations is because their money comes from capital gains rather than actual labor. Interesting. Because when people complain that public sector employees deserve higher taxes, it's because they aren't working hard enough. But when people want to protect the wealth earned by gazillionaires, it's because they haven't been working at all.
Maybe Kevin Drum can explain it better...
http://motherjones.com/kevin-drum/2011/09/lies-damn-lies-and-average-tax-rates
Or, maybe not.
From the war over "fixing the tax system" comes the argument that the super-wealthy's low tax obligations is because their money comes from capital gains rather than actual labor. Interesting. Because when people complain that public sector employees deserve higher taxes, it's because they aren't working hard enough. But when people want to protect the wealth earned by gazillionaires, it's because they haven't been working at all.
Maybe Kevin Drum can explain it better...
http://motherjones.com/kevin-drum/2011/09/lies-damn-lies-and-average-tax-rates
Or, maybe not.
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