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Originally Posted by Axil
While investment income and income earned as a wage are both income, that is all they have in common. I do not believe they ought to be taxed the same as they are not the same. I have laid out my reasons in previous posts. I do not believe the "income is income" argument is very compelling.
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And I don't believe your argument is compelling either, so we agree to disagree. I'm actually a bit offended that an investor would feel comfotable feeling they should pay a lower rate on his/her income than a man working for a living.
You are correct, they are not the same. Investment, if anything, should be taxed higher, not lower, than labor income, if we're not going to have an equal rate.
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But of course there is a "deserve" in a tax system. Voters vote for many reasons.
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And they just handed Obama a landsilde electoral victory and what he has taken as a mandate.
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I believe at one point we discussed tax reform previously, and i mentioned my support for the consumption tax, and far less enthusiasm for a "flat tax". This is one of the major reasons i believe a consumption tax is vastly superior than a flat tax. Every issue discussed in this thread magically disappears when a consumption tax system is utilized.
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I think we could find mcuh to agree upon in this section however.