It's a new day of a new year, the Bush tax cuts for the rich are dead and Obama is coming back

[TahitiNut]

4. Correction: the "rich" get those tax cuts, too

Almost nothing is more obscured than the FACT that FIT tax rate reductions on income below $400K also apply to the FIRST $400K of income of the "rich" as well. The impression that the "rich" don't get the benefit of reductions in the tax rates is insidious hogwash!

We're STILL taxing earned income (that income derived from one's own labor) at higher rates than unearned income (income derived from the labor ofothers or the death of another). It's appalling to me that the Working Class is not only enriching the already-rich but is more heavily burdened in our tax system than those who, by virtue (or lack thereof) of our perverted economic system gain the greatest benefit from their labors!

Until the 70's, it was thought that labor equity (that portion of the value of labor returned to the worker) was essentially constant at 60%. Today, the average share of the value of a worker's labor in the S&P 500 returned to employees in the form of "employee compensation" is less than 35% of the value of that labor. That's fucking appalling!