To: President Donald Trump, The California State House, The California State Senate, Governor Gavin Newsom, The United States House of Representatives, and The United States Senate
$1 = $1
$1 of Investment Income can be taxed as high as 15% whereas Wage Income can be taxed as high as 36%.
This 21% difference represents a significantly greater level of Discretionary Freedom for the Investor compared with the Wage Earner and a leading factor in the drastic, unequal distribution of wealth in the US, where the top 5%(mostly investor class) have 72% of the financial wealth.
This unequal distribution is also an economic statement that says $1 of Investment Income has a greater benefit to society than $1 of Wage Income. I counter this false assumption with my MoveOn petition, $1 = $1.
This 21% difference represents a significantly greater level of Discretionary Freedom for the Investor compared with the Wage Earner and a leading factor in the drastic, unequal distribution of wealth in the US, where the top 5%(mostly investor class) have 72% of the financial wealth.
This unequal distribution is also an economic statement that says $1 of Investment Income has a greater benefit to society than $1 of Wage Income. I counter this false assumption with my MoveOn petition, $1 = $1.
Why is this important?
Our tax code today says an Investor's income is so critical to the US Economic Engine that, after appropriate taxes, 85% should be left for the Investor. To do with as they please and which can be re-invested, saved or spent inside or outside our country; each of these with a completely different economic impact. But whatever they choose, through the tax code, we are saying that giving the Investor greater control of their $1 is a benefit to everyone and in the end becomes an economic "tide that will lift all boats". For Wage Income, since it has much less benefit to society, we only allow the Wage Earner to keep 64% of their income.
This petition isn't necessarily about how I have been affected, more how our society unfairly treats Wage Income compared with Investment Income. I think it is time to take a stand against one of the most unequal aspects of our tax code. With this petition I hope to start a conversation that leads to a wider understanding and eventually to change. I submit this on behalf of anyone who's income comes from wages.
This petition isn't necessarily about how I have been affected, more how our society unfairly treats Wage Income compared with Investment Income. I think it is time to take a stand against one of the most unequal aspects of our tax code. With this petition I hope to start a conversation that leads to a wider understanding and eventually to change. I submit this on behalf of anyone who's income comes from wages.