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I__Know__Stuff t1_j7f4sve wrote

Reply to comment by LucyFerAdvocate in [OC] How Google makes money (its 2022 income statement visualized as a Sankey diagram) by IncomeStatementGuy

Capital gains tax is part of income tax.

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LucyFerAdvocate t1_j7f73u4 wrote

Ah fair, I'm pretty sure it's not in the UK so I assumed it would be the same in the states

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DataMan62 t1_j7jfpmn wrote

No. Capital gains tax is very different from ordinary income tax. The greatly reduced capital gains rate IS EXACTLY what is wrong with the American system. If you work for a living, you have to pay income taxes on it all. If you live off daddy’s inheritance, you can sit on your ass and pay less than half the rate!!!!

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