General Discussion
In reply to the discussion: Capital gains should be taxed HIGHER than labor. [View all]freshwest
(53,661 posts)Yes, people are taxed twice, thanks for reminding me of that.
The GOP seeks to disenfranchise based who owns land and is paying property tax, but it's a falsehood. The Teabaggers have changed voting in municipalities, saying renters don't pay property taxes, when they do.
Because it's part of the cost of being at the place they live, and property owners are not a fool who doesn't pass that cost along out of a sense of pride of ownership.
A bigger issue when we speak of the investing, is how the tax code is constructed. A worker generally must pay their tax burden upfront. Thus reducing their take home pay, lowering their standard of living all year around.
The person who is not drawing a wage is not forced to pay up front as the paperwork to prove income on a weekly or monthly basis would be huge. They hold onto, invest or use their income from the business to make more money, and have a year to find excuses not to pay taxes. In the meantime, they have that money in possession, like a bank holding money on deposit and using it for other purposes to make more money.
The only solution offered has been the flat tax, which is still the rich man's game. Some people are so reduced in income, or have none for whatever reason not of their own doing, that any tax harms their chances of survival.
Obama has been trying to frame the argument of justice in taxes for a long time, and I hope it resonates with enough voters to get things back in balance. It's a hard road ahead.