politics
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That and because the republicans will keep claiming they want to raise taxes and peopke dont like being taxed. Does it matter that its a tax increase that only affects the wealthy? No, as they too are a temporarily embarrassed millionaire.
I do agree that capital income and earned income should be treated equally, but the politics of that make it more difficult.
It might have been better to reduce the higher income tax by an equivalent amount to match a higher rate, so that the overall tax take is roughly similar, somewhere in the middle, but then shed be accused of helping billionaires.
I really don't believe in the temporarily embarrassed millionaire. I just think people are that stupid. They hear tax increase and never look further.
These are the same people who believe getting a raise means you end up with less due to taxes
Mind you, there is a hell pit where you make too much to qualify for assistance but not enough to afford existing, but that's not what I'm talking about.
Oh yeah, I was in that hell pit growing up and trying to get through college. The hell pit is awful. There is an even worse hell pit for disability benefits.