Quote (Subzer0isGG @ Apr 25 2018 03:18pm)
Bill gates says the same. Taxes should be high for corporate. He’s paid more taxes than anyone on earth.
Ya i just hate the concept that we tax labour gains higher than capital gains, I am of the philosphy that $1 is $1 regardless of where it comes from.
By lowering the tax rate on capital gains we are saying that those who work for a living pay 100% of the tax rate, where as those who invest (the rich) pay a lower tax rate on that portion of income. (obviously their $'s paid in tax is still higher)
the philosophy is to incentivize investment over hoarding cash in savings but the result is favorable taxation for the rich.
This is why the ultra rich take much lower salaries and pay themselves as cash disbursements for preferred class shares, and using option plans etc.
e/ this actually punishes the upper middle class the most, those who work for a great living earning them a high tax bracket but still make the majority of their income from labour capital
This post was edited by Nearin on Apr 25 2018 01:36pm