Friday, February 17, 2012

The tax code punishes workers and favors the wealthy

NYT: Working All Day for the I.R.S.

Capital gains, investment income, all that is taxed at a lower rate than actual income.  This amounts to a policy of punishing work.

Defenders of the scheme like to argue that capital gains taxes are outrageous because it amounts to a double tax.

Of course, these defenders never suggest that we abolish the corporate tax and then equalize income treatment for all earners.

But there's more money in shilling for the super rich, so who really cares about intellectual honesty?

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