Mitt’s Income vs. Your Income

Originally Posted by Shooter

This shows how narrow minded you and Adam Carolla can be. I'm only looking for fair taxes for all Americans. I look in the mirror every day and I'm happy with what I do and what I make. I never wanted to be rich. I'm just tired of paying a ton in taxes while others get a free ride.

Your right, the only tax that is remotely fair is one that everyone pays the same. Thanks for proving my point.

You fail to see that the reason for lower capital gains tax is it has already been taxed. In order for money to turn into capital, to be retained, or distrubited, it must first be a profit. So the profit is taxed, then the dividend is taxed.

Originally Posted by psudy

You fail to see that the reason for lower capital gains tax is it has already been taxed. In order for money to turn into capital, to be retained, or distrubited, it must first be a profit. So the profit is taxed, then the dividend is taxed.

The simple solution to this is to allow the corp to pay taxes on profits after dividend distributions. Once it reaches the hands of the public it should be taxed the same whether investment or earnings. If anything the cost of making money is much higher for the individual who goes to a job vs the individual who's money works for him.