Quote:
Originally Posted by classicman
There is a difference between the two. Wasn't the Cap gains rate initially established to incent people into saving more?
Has it gotten out of hand? Absolutely.
Does something need to change? Definitely.
Romney is a perfect example of that.
Interesting how when you compare Romney's #'s to Obama's #'s, the REAL difference is from where the income is derived.
Heck, I've been saying this for over a year.
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Seriously?
No, I fully believe the lower cap on capital gains was established because the people who earn capital gains wanted to pay less in taxes and had the political mojo to make that happen.
When you save your money, you know, like "regular" people do, in a savings account or some such, the interest you earn is regular income. not Capital gains. You have to be much more bux up to get capital gains.
Or, do some other thing with your money, like, buy stock low, sell stock high, that profit is capital gains. But you're not doing that with your "savings".