Dec

26

 It is amazing that this divisive "fair share" and "honesty" drivel emanates from someone who extracted the majority of his fortune from the financial markets. Reeling from the lost decade, his motive is to affect a future where after-tax comparisons will be more favorable to his passive brethren. From the John Bogle interview:

Q: What do you think about the ongoing discussion over tax fairness?

A: I believe the rich should pay more, but that's not a good platform for tax policy. What has gone wrong is that we've failed to recognize the difference between earned income and unearned income. Is it really fair for gamblers on Wall Street to pay a 15 percent rate when they make a winning investment, and an honest working person - a bricklayer for example - may pay an equal or higher tax on their wages than a gambler? That's absolute absurdity.


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