By the way, the reason capital gains are taxed at a lower rate is to encourage investment and finance companies that hire people like you and I. How do you think venture capitalists work? They get big rewards because they take their money and risk it on ventures that may or may not work out which is more than most folks are willing to do! How many success stories would we have in this, and other, countries, if people did not risk capital? How many people have been hired due to Microsoft or Apple (and related industries) worldwide - hmmm? You state that there will be aggregation at the top, however, many capital gains are made by senior citizens in their savings, 401K, IRA, etc. Many "working class folks such as firefighters, teachers, etc., through their pensions and like instruments, also make capital gains. Also, other working folks, like you and I probably are, also get capital gains through our mutual funds, 401Ks and the like. So, to say that it all aggregates at the top is not telling the whole story; we all make capital gains. Let's look at it another way, MK. I don't suppose that if the real estate market were in good shape these days, and you bought a house near where you are for (simplification's sake) $150,000.00. You worked and lived there ten years, then you got transferred, and at that time, your home is now worth $200,000.00. So, (given we also ignore the $600,000.00 capital gains tax exclusion in buying a new home) you would, if you sold it and cashed out, you would pay 15% (or whatever the CG rate is at the time) on the 50K. If I read you correctly, you will be willing to count that as regular income and pay 24.5 percent on that 50K right? I don't think so buddy; you will do what the law says and so do millions of "regular" people.

Let's take one more example of the "Buffet Rule" since the current "politic speak" is, "Why should Warren Buffet pay less of a tax rate than his secretary? This is not FAIR!" Well look at FACT Check's research here:

http://www.factcheck.org/2011/10/shes-no-buffetts-secretary/

Or this one about the teacher who makes $50,000.00 a year:

http://www.factcheck.org/2011/09/obamas-teacher-tax-whopper/

Part of this "half baked" idiom is that Warren Buffet pays himself less of a "salary" than his secretary, so on ordinary "payroll" income; he would pay a lower percentage. Do you think that he really pays fewer taxes than his secretary? Here's a Forbes article on the subject:

http://www.forbes.com/sites/paulroderickgregory/2012/01/25/w...

As to those that "inherit" their wealth over those who actually invent stuff and work for it like a, now deceased, Steve Jobs, here are a couple of links if you care to read. Money magazine had an article a few years ago as well and estimated that only 10% of the top 1% of the wealthiest persons actually "inherited" it.

http://www.consumerismcommentary.com/most-wealthy-individual...

If you expand it to just billionaires:

http://moneytipcentral.com/self-made-vs-inherited-billionair...

As to who pays what and what is FAIR? Here's the real story:

http://ntu.org/tax-basics/who-pays-income-taxes.html

The bottom line, this "the rich don't pay their fair share" is a bunch of bunk foisted on the American people by political "charlatans" who exploit those who won't do the research, into believing "half truths" and "twisted stories" and "slanted presentations of the whole story" to gain political favor and get "voted in" so that they can reward their "political buddies" who helped them gain power. The only way you and I can help "clean up Washington" is to make informed decisions about who we sent to represent us (no matter what party you have a tag to!), and send people who are willing to tackle the tough problems "head on" with no "cock-n-bull" stories and let the American people know the facts - period. As long as we vote these disingenuous individuals in, we will get what we vote for. Let's FIRE the ones that don't do a good job - they work for US - not the other way around!