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Politics : A US National Health Care System?
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To: Lane3 who wrote (13531)2/23/2010 9:02:52 AM
From: Road Walker  Read Replies (1) of 42652
 
Fairness is a human value. You can apply fairness to tax rates on the salaries of executives vs secretaries or married vs single. How do you apply fairness to interest vs dividends?

Taxes are a human activity.

Raising taxes on dividends may hit the rich more than the poor but it also hits the poor. I have a poor, elderly aunt who collects dividend income from a utility stock willed to her by a friend. What about her? Is that fair? Retired people don't have salaries anymore. Many live off of passive income, instead. Is it fair to penalize them on the basis of the Protestant Work Ethic? I don't see how.

If your Aunt is poor then her income tax rate will be low. Her interest income will just be included in her overall income for tax rate purposes, not treated differently as it is now.

And it's not a penalty. The current system is the perverse incentive for passive income. Actual work is penalized at a higher tax rate.
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