Re:San Francisco voters approve taxes on highly paid CEOs, b...
by jelliclesfarm on Thursday November 05, 2020 @08:00PM
(#25003818)
15% on a million net is more than taxes from middle class wage which actually goes towards negative tax if one takes the benefits of a living in an incorporated city and if there are children using public schools etc.
Money taxed from capital gains isn’t really the same as taxes levied on wages. This is very fundamental tax logic. Would you like me to explain why?
[..] The justification for a lower tax rate on capital gains relative to ordinary income is threefold: it is not indexed for inflation, it is a double tax, and it encourages present consumption over future consumption. ... Finally, a capital gains tax, like nearly all of the federal tax code, is a tax on future consumption.[..]
Money taxed from capital gains isn’t really the same as taxes levied on wages. This is very fundamental tax logic. Would you like me to explain why?
[..] The justification for a lower tax rate on capital gains relative to ordinary income is threefold: it is not indexed for inflation, it is a double tax, and it encourages present consumption over future consumption. ... Finally, a capital gains tax, like nearly all of the federal tax code, is a tax on future consumption.[..]