Reply #6: Plus they also plan on eliminating taxes on investments [View All]

[Elwood P Dowd]

This was from an earlier article today on DU. They want to eventually eliminate most of the tax burden on the rich and shift it all to the middle class and poor.

I know a wealthy person who makes all of his money on investments. Daddy left him very, very comfortable. With no taxes on investments, he would only have to pay the self-employment SS taxes. Those stop at 90K, so he would only pay about $13,000 out of an income of over $500,000. His tax burden would be less than 3%. I'm also self-employed, but have zero investments and make less than $50,000. My tax burden would be over 25%. Ain't life going to be wonderful in the future BushWorld.