- Feb 12, 2007
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Why should someone who lives off capital gains pay a lower tax rate than someone who does not?
Because they already paid taxes on the income used to create that capital.
The thing about Capitalism is that it requires Capital to finance businesses, grow the economy, and create jobs. Those who invest take calculated risks - why should they have the downside risk of losing all of their capital with the government taking a huge share of the upside (to spend on crap)?
The Faux Populism of justifying seizing someone's wealth on the pretext of "fairness" just causes that capital to be misused by politicians to pay off their cronies. That is worse for our economy, and the poor at the bottom, than letting the capital be used for a productive purpose.