The rich are not like you and I -- a lot of the money they make comes from something other than working. I don't begrudge Meg Whitman the billion bucks she made at EBay (well, I do, really, but never mind). But when you sit on a pile of money, hire someone to manage it for you, and reap major windfalls on the interest, well, you're basically making money for doing nothing.
And you ought to at least pay taxes on it.
But Whitman thinks she and other rich people are so special that she wants to exempt them from taxes on capital gains. That means the rest of us -- the poor fools who actually get up every monring and go to work -- will have to pick up the slack.
Oh, but won't this "create jobs?" Chris Kelly in Huff Po:
For example, if a billionaire didn't have to pay taxes, he could hire you to express his dog's anal glands. And you could pay taxes.
Pardon me for thinking this is about the dumbest tax idea I've heard since Ronald Reagan decided to tax the unemployed.
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