I guess aquaeyes gave up, must have run out of you tube videos.
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Does the person that invests risk his own money ? Should there be some reward for that ? When you go to work for someone are you risking your money ? If the taxes are raised here will I invest here or where the taxes are lower ?I'm not asking the rich to pay more in taxes, I'm simply asking that the effective tax rate for the rich and middle class are the same. The rich have a lower effective tax rate because earned income (working for a living) is taxed at a higher rate than unearned income (payment from investments). Someone making millions a year usually pays an effective tax rate of about 15%, someone making $50,000/year usually has an effective tax rate of about 30%.
If you factor in things like sales, property, utility, car taxes, etc...the middle and lower income have a much higher tax rate than the rich.
Nope, I just realized that arguing with this audience is pointless. But the responses that followed are rather entertaining.
I love an audience that asks good questions and brings up good points. That's why I gave up here.