September 18, 2013 at 10:00 pm
#797651
skeeter
Participant
“There once was emphasis on taxing investment and “unearned” wealth at significantly higher rates and taxing earned income more equitably.”
Untrue.
From 1916 to 1921, the capital gains tax rate was equal to the maximum earned income rate. From 1922 to 2013, the maximum capital gains tax rate was less than the maximum earned income tax rate. Fair or not, Congress has taxed investment income at lower rates than earned income.
As for the game being rigged, you may be correct. I’m gambling my family’s economic future on the game not being *too* rigged. If it is so rigged that only the 1% ultimately come out ahead then I’ll be in bad shape. Despite my right-leaning views, I’m just a working guy with mouths to feed.