This is a great article on investment tax rates as opposed to payroll tax. Lets say you are a mechanic at the local Ford dealership, and your annual salary is $60,000, your IRS tax rate will be 25%. However, if you inherited millions (such as Paris Hilton) you only pay 15% on any income from this inheritance. The Republicans think this is too much on poor Paris and want to drop the 15% even lower. At the same time they think the mechanic is OK, just work a Little harder and longer and you will earn more.
Dana Milbank - Selling Them Short - washingtonpost.com
Friday, November 14, 2008
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