Brad Dolan writes:
BD> Now imagine that I want to make that $100K investment or, more BD> realistically, that I want to invest $100K in my kid's college BD> education. I'm going to have to earn wages of $160K and pay $60K BD> in tax. It would make me cranky if the guy next door could just BD> clip $100K of coupons, tax free, to pay for his kid's education. BD> While I'm sure Steve Forbes could, I can't think of a moral BD> argument why income from selling stock should be taxed at a rate BD> lower (or higher) than than income from wages. Because, when you work harder (or more), you are (presumably) producing more and adding to the economy. When you leave money in an inefficient investment, you aren't. Of course, this is all based on the premise that income taxes are moral in the first place. (; -- #include <disclaimer.h> /* Sten Drescher */ ObCDABait: For she doted upon their paramours, whose flesh is as the flesh of asses, and whose issue is like the issue of horses. [Eze 23:20] Unsolicited solicitations will be proofread for a US$500/KB fee.