Since the vast majority of Americans make the vast majority of their income from wages paid for their labor, those wages should be no more disfavored from a tax perspective than any other income. Therefore, we request that all preferential treatment of other forms of income, particularly capital gains, be eliminated. Treat all income as income.
Why is this important?
The vast majority of us make the vast majority of our income from wages paid for our labor, but our labor is considered somehow less worthy than the investment, risk, or speculation that results in capital gains. Under the recent "fiscal cliff" agreement, the capital gains rate went all the way up to 20% from the obscenely low rate of 15%, but this still strongly favors speculation over labor. It is time that all income be treated equally from a tax perspective. Income is income, after all.
