Right. This is how the tax code used to work. Capital gains taxation occurred at the same rate as income taxation, because both are income. The current structur

Right. This is how the tax code used to work. Capital gains taxation occurred at the same rate as income taxation, because both are income. The current structure of lower capital gains taxes incentivizes stock market speculation (which is the real mover behind the 2008 crisis) and has spurred the financialization of the economy (we don't make things, we just trade on debt). "Starve the beast" has failed. Time to leave it behind.