[quote=CA renter]There is no reason for profits from speculation by the rich to be taxed less than the labor of the working class.[/quote]
While I may not disagree with the rest of your statements, this is inaccurate. Capital gains on commodities are taxed as income. What is really happening right now is the ‘pile on’ effect, where money managers not wanting to be left behind, pile on. The problem with the money managers is that they don’t want to take a risk in being different. If they fail as a member of a group, their jobs are safer than if they step out and thought originally. If they fail and did so because they ‘stepped out’ of what all the money managers do.. their goose may be cooked.
