You’re hyper-focused on tax rates for upper-middle income earners who’ve EARNED their income.
Can we agree that ALL income should be taxed at the same rate — passive as well as earned income? And no BS about “job creators.” We’ve had historically low tax rates this past ~decade, and our job base has been shrinking dramatically. We haven’t seen a mess like this since just before the Great Depression…and the years just prior to the GD happened to be the last time we saw such low tax rates. They also happened to coincide with a credit bubble and huge growth in wealth/income inequality, too. It just might not be a coincidence.[/quote]
Ok, I’ll play…Define “income”.
What is income?[/quote]
Money that is earned by working (earned income) or received as interest, cap gains, dividends, etc. Yes, the water gets muddy when one considers equity-based compensation, but maybe we need to take a closer look at how we handle compensation.
Either way, it doesn’t matter. If ALL types of income were taxed at the same (progressive) rates, that would go a long way toward solving our problems. That, and get serious about fraud and corruption. Again, the #1 place where you’ll see HUGE wastes of taxpayers’ money is where public money and private corporations intersect.
