Re:Trust in Government Is Collapsing Around the World
by cmurf on Wednesday July 13, 2016 @06:09PM
(#12090056)
>It's unearned income. In other words: no income.
No that's wrong, it is income. Examples of unearned income are dividends and interest, and capital gains. These are taxed at a lower income tax rate than earned income, i.e. income from a salaried job. And unearned income is not subject to FICA tax.
You have to make enough money for starters in order to have income sources that are unearned, so yes this is favored at people who make money. The very wealthy, the 1%, aren't making this money from earned income, they make it from unearned income.
I hate how people constantly move the goalposts when it come to claiming that a certain minority of people aren't "paying their fair share". You know who else doesn't pay taxes on unearned income? The 99%. That's about as fair as it can get.
FICA goes to benefits that overwhelmingly favor the poor compared to the rich, so I don't find that argument compelling either.
Your original claim was that the tax code heavily favored the 1% but so far all you've managed to back that up with is a tax rate on their unearned income being the exact same as it is for the 99%'s unearned income. Hardly convincing.