Politics and religion.

[Puckstop31]

I care! Please explain in laymens language so a person can understand what you are saying.

Just to add a little to what LH said....


Income tax = What working stiffs understand. A tax paid on money you earn in the traditional way, generally a salary paid by an employer to an employee.

Capital Gains tax = You buy something (stocks, buildings, companies, etc....) and sell it for a profit. You invested capital and made a gain on that investment by selling it for a higher price than you paid.

[Bonny]

Just to add a little to what LH said....


Income tax = What working stiffs understand. A tax paid on money you earn in the traditional way, generally a salary paid by an employer to an employee.

Capital Gains tax = You buy something (stocks, buildings, companies, etc....) and sell it for a profit. You invested capital and made a gain on that investment by selling it for a higher price than you paid.

But then isn't your gain taxed? Isn't that also considered income?