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Old 06-13-2021, 04:55 PM
manaboutown manaboutown is online now
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Originally Posted by jimjamuser View Post
The rich pay less taxes through the mechanism of Capital Gains. The rate is LOWER than rates on income!
So do the poor and everyone in between. A capital gain which can be due in part or in whole to inflation, for example, is a very, very different animal than earned income. It is based on any gain from the sale of an asset. In some countries NO tax is paid on capital gains. I think in the UK capital gains are taxed at 10%, much lower than in the US.

Last I heard in the USA 47% pay NO income taxes because they do not earn enough!!! That is almost half of us.
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Last edited by manaboutown; 06-13-2021 at 05:01 PM.