Political & Elections

One should ask the question.....why is the push to raise taxes on people who make the top 2% of income? Many of these people are not rich. In fact, most of these people are not the multi-millionaire, billionaire types the Democrats try to claim this group is.

The reality is, the truly wealthy multi-millionaires and billionaires aren't going to get hit with the targeted tax increase on earned income, set to go up to 39.6%. They make most of their income on capital gains, which is taxed at 15%. Even if it rises to 20%, that's a heck of a lot less than people who are taxed on actual work.

Kind of makes you wonder. Why aren't they changing the tax on capital gains to the same rate as ordinary income? I thought the "rich" needed to pay their fair share. Or is it just the rich, and not the ultra-rich....who are the big donors have have the $$ to buy off the politicians.

Are people going to start getting tax divorces now, because they are both high income, and will get slammed with taxes if they are above the 250K rate? Or maybe they'll just not get married. Or hey honey, you need to stay home and not work.

I have to wonder if John Doe would be as supportive of raising taxes, if his cap gains rate went up to 39.6% (plus paying medicare taxes on all of it, and social security taxes on 100K+ of it, like us regular working stiffs do).