5 ms·
Income tax is based on income earned, capital gains is based on a sale of a asset. There is definitely a difference.
by bawse1 8y ago
Income tax is based on income earned, capital gains is based on a sale of a asset. There is definitely a difference.
- chii 8y ago> Income tax is based on income earned, capital gains is based on a sale of a asset. but couldn't you claim that income is sale of personal time (an infinitely valuable, and non-renewable asset)?
- fleetingmoments 8y agoIf your personal time is infinitely valuable to yourself, why do you sell for way below that?
- beat 8y agoYes, but that doesn't mean they should be taxed differently. You need more justification.