“This bill shows that Social Security is fully affordable—as long as the wealthiest among us pay their fair share,” said one advocate.
Legislation recently introduced by a pair of Democratic U.S. lawmakers to save Social Security for generations to come would extend the vital social program’s lifespan by at least 75 years, according to a federal analysis published Tuesday.
This isn’t a wealth tax, it’s a tweak to income tax.
The rich don’t gain wealth through income.
Capital gains should be taxed at least as hard as income.
Capital gains should be income, for tax purposes.
I agree. Politicians like to throw in the term “wealth” to create class division and evoke enough emotion to help push their agendas thru. Also, the 400k universal threshold doesn’t make a whole lot of sense…someone making 400k in Mississippi is much better off than someone making 400k in California. What’s considered a ‘fair share’ is hard to quantify, but definitely taxing capital gains equally is a good place to start.