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Politics : PRESIDENT GEORGE W. BUSH
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To: Lizzie Tudor who wrote (514500)12/22/2003 3:52:43 PM
From: tonto  Read Replies (1) of 769670
 
Lizzie, the money you invested was earned at one time am I not correct? If so, as is the case for most wage earners, it is taxed at the different income levels. That money then can be reinvested and taxed again and again, but at lower rates. Yes, capital gains are taxed at lower rates as they should be, that money has already been taxed enough. Unless one is simply interested in taking away one person's property. Then it can be argued that the person with more is not having enough of their property taken away from them at once.

Why are taxes on capital gains a sham as you write?
If they were taxed higher will they become an honest earning?

We differ in opinions. How could you have employees and no personal earned income?

You have got to be kidding. When I made hundreds of thousands in capital gains in the 90s doing nothing more than talking to my buddies about what was going on, that "passive income" was not taxed at high rates, ever. The listed companies and their EARNINGS are taxed at some smaller proportion to earned rates (much smaller actually given all the loopholes which Fica does not allow for)- but as an investor I was just speculating like everybody else.

I paid less taxes on 500K of income than my employees paid on their 60K salaries, that is a fact. I paid no FICA on my income, my employees were socked with that. Some of my money was "long term" at which point it received the lower rate. Capital gains are a travesty, a sham.
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