The anti-capitalists have this crazy idea that investment income isn’t “earned” in the same way that labor income is. Of course that’s absurdly anti-capitalist and completely ignores the point of capitalism and the function of risk taking incentivized by potential rewards. Failing to make a coherent argument against active investment income, for instance entrepreneurs, they will then revert to criticism of passive investors and their eventual complaint will come to arguing S&P index investors should be taxed on “unrealized” gains.
Remember it’s all illogical nonsense motivated by Envy which they masquerade as Empathy.
" Earned income is money received as payment for work, including wages, salaries, bonuses, commissions, tips, and net earnings from self-employment. For tax purposes, it can also include long-term disability payments, union strike benefits, and, in some cases, payments from certain deferred retirement compensation arrangements.
Income such as investment profits and Social Security payments is considered unearned income, also known as passive income."
It's motivated by the ideology of wanting a meritocracy - the idea that if you work hard you can reap rewards. Having some people in society that can sit at home and watch the S&P increase while some have to work 50-hour weeks to make ends meet is seen as problematic.
What do you mean by “isn’t earned income” ?
The anti-capitalists have this crazy idea that investment income isn’t “earned” in the same way that labor income is. Of course that’s absurdly anti-capitalist and completely ignores the point of capitalism and the function of risk taking incentivized by potential rewards. Failing to make a coherent argument against active investment income, for instance entrepreneurs, they will then revert to criticism of passive investors and their eventual complaint will come to arguing S&P index investors should be taxed on “unrealized” gains.
Remember it’s all illogical nonsense motivated by Envy which they masquerade as Empathy.
I thought "earned income" was an actual accounting term (to define a type of taxable income as opposed to passive income):
https://itap1.for.irs.gov/owda/0/resource/Commentary_Files_R...
" Earned income is money received as payment for work, including wages, salaries, bonuses, commissions, tips, and net earnings from self-employment. For tax purposes, it can also include long-term disability payments, union strike benefits, and, in some cases, payments from certain deferred retirement compensation arrangements.
Income such as investment profits and Social Security payments is considered unearned income, also known as passive income."
https://www.investopedia.com/terms/e/earnedincome.asp
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It's motivated by the ideology of wanting a meritocracy - the idea that if you work hard you can reap rewards. Having some people in society that can sit at home and watch the S&P increase while some have to work 50-hour weeks to make ends meet is seen as problematic.
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Working for a company that pays you in stock and then selling those stocks is in fact earned.