> The NIIT was targeted at “high-income people who lived off investments,” remembered Andrews. It was designed to hit “someone who is day-trading, someone who i

> The NIIT was targeted at “high-income people who lived off investments,” remembered Andrews. It was designed to hit “someone who is day-trading, someone who is arbitraging the market,” he said, referring to the practice of exploiting mismatched prices of securities, like stocks or bonds. Nearly all of the examples in this article were people who were not day-trading or arbitraging the market and didn't qualify for the tax. So it sounds like the tax is working exactly as intended and the journalist just doesn't like it.