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Lamplighter · 01-24-2012, 04:14 PM

It's not just the amount of income.
It's the basic premise of the Republican party and current candidates.

They tell the public there is a difference between income earned from hourly wages or salaries,
and income earned from "investments" such as "cutting coupons" from bonds, dividends, interest, capital gains, etc.

It is all income in the form of US dollars, and there should be
no difference in taxes that is depending on the source of the income.
That is different than a progressive income tax where higher rates apply to those who have higher incomes.

All of the current Republican candidates advocate 0% taxes on "capital gains",
and several of them want to have a "tax holiday" for bringing $ from off-shore accounts.

Home owners who sell their real estate for more than they paid must currently pay the "capital gains tax"
But if the they lose $ on the transaction, they can not deduct the loss... as can a business or "investor"

01-24-2012, 04:14 PM	#525
Lamplighter Person who doesn't update the user title Join Date: Jun 2010 Location: Bottom lands of the Missoula floods Posts: 6,402	It's not just the amount of income. It's the basic premise of the Republican party and current candidates. They tell the public there is a difference between income earned from hourly wages or salaries, and income earned from "investments" such as "cutting coupons" from bonds, dividends, interest, capital gains, etc. It is all income in the form of US dollars, and there should be no difference in taxes that is depending on the source of the income. That is different than a progressive income tax where higher rates apply to those who have higher incomes. All of the current Republican candidates advocate 0% taxes on "capital gains", and several of them want to have a "tax holiday" for bringing $ from off-shore accounts. Home owners who sell their real estate for more than they paid must currently pay the "capital gains tax" But if the they lose $ on the transaction, they can not deduct the loss... as can a business or "investor" Last edited by Lamplighter; 01-24-2012 at 04:19 PM.