Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: TimF who wrote (644084)	1/30/2012 5:59:02 PM
From: i-node	4 Recommendations of 1581785

There is nearly a century's worth of tax law distinguishing capital gains from ordinary income, and an entire legal infrastructure surrounding it for preventing the conversion of ordinary income to capital gain. It seems to me what has been lost is this fundamental distinction between these different kinds of income. One is a tax on earnings; the other is a tax on realized appreciation of property, that is, SAVINGS. Why does the tax law treat them differently in the first place? There are good reasons for it, not the least of which is it is essential to the formation of capital for investment. Here is an excellent study of the subject from the Joint Economic Committee back in '97. Really worth reading, whether or not one agrees with it. house.gov

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