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So just 6 people have more wealth than over 90 MILLION and they pay a LOWER tax rate than half of them?

And the republican party fights to cut their taxes even more as they EXPORT jobs to China. How can you defend that?

* The majority of their wealth is from capital gains... and that is taxed half as much as your paycheck.

http://news.yahoo.com/six-waltons-more-wealth-bott...

http://en.wikipedia.org/wiki/Capital_gains_tax_in_...

Update:

@arthur... no capital gains refers to the PROFIT not the principal. I have included a link that discusses capital gains. Also your info about what you think you know about your parents income taxes isn't reliable. Not calling you a liar... but I doubt you know all the facts... for example... what deductions they had. That matters.

Update 2:

Again... capital gains means a PROFIT... all the bills are paid. And in most cases the people collecting the money are NOT doing any of the work. They own stocks.... that's it.

It is not a capital tax... it is a capital GAIN tax.

6 Answers

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  • ?
    Lv 7
    9 years ago
    Favorite Answer

    "So just 6 people have more wealth than over 90 MILLION"

    No. Six members of the Walton family have over 90 million.

  • ?
    Lv 7
    9 years ago

    1. Capital gains is return on money you have already earned and paid federal income tax, social security tax, medicare tax, state tax, city tax, etc. on. Because said money has already had the hell taxed out of it, returns are taxed at a lower rate.

    2. If it is payment for a job, the more you make the higher your tax rate is.

    3. My parents made $70,000 last year. Because of various tax deductions they paid $0 in federal income tax. My math isn't too good, but that is approximately 0%. In fact because of tax credits, they got a return of $3,000.

  • Anonymous
    9 years ago

    how about instead of raising their taxes you cut mine?

    giving me a tax cut helps me more than raising someone else's you moron.

    but on the flip side i also hold capital investment so raising the capital gains tax would be taxing me a middle class worker more.

    you know the income tax was NEVER supposed to affect the bottom 99% in the 1st place.

  • 9 years ago

    I agree with Vulcan on this matter all the politician are doing is raising taxes and slowly taking away our rights.

    PLEASE go to

    http://americancensorship.org/

    and

    stopcensorship.org

    The government is trying to censor the internet PLEASE Join me and the hundreds of thousands of others who are doing are part to make sure we try to stop these two Bills.

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  • Anonymous
    9 years ago

    why do you think the 99% are camped out in the Court House lawn this cold night?

    We're sick of being screwed by republicans - and unfortunately by sleazy democrats as well.

  • Tony
    Lv 4
    9 years ago

    Vote then out of office ok ....

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