Occupy Wall Street

[Riot]

Originally Posted by slotdirt

Honest question: do you understand the difference between income earned by salary or wages (subject to the federal income tax) and income earned off investments (subject to capital gains taxes)? Further, do you understand that capital gains taxes are significantly lower than income taxes in order to encourage capital investment? Lastly, the only ways to make Warren Buffett pay more than 17.4 percent in taxes is to give him a larger salary (his is $100k and has been for 30 years), eliminate deductions, or to tax capital gains at a significantly higher rate. Pick your poison.

Yes, I pay different tax rates on my regular income versus my capital gains. Duh. Are we in economic kindergarten here?

What I suggest you do is read what Buffett is lobbying for regarding the tax code, rather than guessing and assuming. It's a bit more complicated than the mean understanding so far expressed.