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Dems' Wealth Tax Bill Would Extend Social Security Solvency by 75+ Years: Analysis
(www.commondreams.org)
this post was submitted on 12 Jul 2023
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Politics
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This isn’t a wealth tax, it’s a tweak to income tax.
The rich don’t gain wealth through income.
Capital gains should be taxed at least as hard as income.
Capital gains should be income, for tax purposes.
I agree. Politicians like to throw in the term "wealth" to create class division and evoke enough emotion to help push their agendas thru. Also, the 400k universal threshold doesn't make a whole lot of sense...someone making 400k in Mississippi is much better off than someone making 400k in California. What's considered a 'fair share' is hard to quantify, but definitely taxing capital gains equally is a good place to start.