Capital gains should be taxed HIGHER than labor. [View all]

[SunSeeker]

All this repuke talk about the how the poor don't know that value of work is nothing but projection. It is the repukes who don't value work. They want to tax work income at 30%, while taxing capital gains (where you get money without lifting a finger) at ZERO. The unfairness is mind boggling.

If anything, labor should be taxed at a lower rate, because it is a diminishing asset, so to speak. We can only provide so many years of labor, then we can't work anymore. Then we die. Life is short and most people, if they could, would spend their limited time here on earth hanging out with their loved ones or seeing the world, engaging in hobbies, etc. Work, in general (particularly low wage work), sucks. So why further discourage work by taxing it many times more than other forms of income? And most people who have to work for a living need every dime they make for the basics. Therefore, they spend everything they make, which is way more stimulative to the economy (70% of the economy is based on consumer spending).

Capital gains, on the other hand, are generated by money --and money does not die. It lives forever and can continue generating capital gains forever. Plus, the rich people who get these gains just stash it away. Relatively little of it is spent on consumer goods to drive the economy. The rich already have all they need. Their spending is discretionary. Why would you tax capital gains at a lower rate if it does not boost the economy like labor income? (Rhetorical question--I know it is because the rich rule congress and are money hoarders).