Anyone who has stocks and dividends will be hit when "capital gains" is taxed as regular income.
That nails most retirees, unless its in a 401k or IRA.
Cry me a river
Those 401ks are taxed like income. Just like capital gains should be. Very few Americans have substantial savings in stocks
Half of all American households own stocks and/or bonds and capital gain tax is applied to more than just the sale of them including real estate, coins, and art. As always you know only what you are spoon-fed by EatTheRich.com.
Most own stocks as part of a retirement plan. It gets taxed as income
Yes, I’m sure so many working Americans have an extensive coin or art collection. If they do, they have probably lost money on it.
You conveniently ignored real estate, Coward. Lots of Americans sell their houses and sooner or later pay cap gains. The bottom line remains untouched ... higher taxes are not the path to American prosperity and you can wiggle and squirm all you want, Comrade Winger, but you can't change that fact.
Most Americans own houses. If you sell and buy something of equal value, you pay nothing. If you sell and cash out, you get a one time exemption.
Higher taxes are a path to public programs that help everyone.
Taxes are the price we pay to live in a civilized society