Linda Sugin, tax law specialist at Fordham, has an excellent op-ed in today's Times. She points out the inherently regressive nature of our tax structure which favors passive investment income over income earned from labor. - gwc
Payroll Tax Returns, Anyone? - NYTimes.com: by Prof. Linda Sugin, Fordham Law School
Because people with high incomes earn a much greater percentage of their total income from investments — and, crucially, because much of that investment income is wealth accumulation that has not been liquidated — tax law favors the rich far more than most people realize. The money that has been gained on investments that have appreciated but have not yet been sold is not taxed and may permanently escape tax under current law.'via Blog this'