Forum Post: Why do workers pay more tax on their work than investors pay taxes on their investments?
Posted 3 years ago on Dec. 3, 2011, 2:40 p.m. EST by warriorjoe7
This content is user submitted and not an official statement
so capital gains is at like 15% or something and employees work on a sliding scale with most middle class paying above 25%
Why should capital gains be lower? It only encourages investors to invest in money, not workers. It should be the other way around.
I find it ridiculous that an investor says nothing more to his broker than "put 500,000 on GE" and if he makes a profit of 60,000 over the year he pays 9,000. Meanwhile Joe Blow and his wife work their asses off for their 3 kids, putting in 50 hours a week each, to earn 60,000 and then they pay 12,000 in taxes.
Doesn't seem right. Capital gains need to go up, and the income tax system either needs to be reformed to great simplicity or done away with altogether (since it is probably illegal anyways)