The President's View on Taxing Investment Return.
Another telling moment at the President's CNBC Wall Street Town Hall: during an exchange about taxes on the Ultrarich, the President suggested that it was only reasonable that a Big Wheel should pay taxes on his dividend income at a rate closer to the higher rate that his secretary pays on her wages. Perhaps the President forgot that taxes were paid on those dividends before their distribution, as income to the company. Also, the Big Wheel is not getting a guaranteed return in exchange for his labor, but the secretary is. The Wheel is also risking a loss on his capital investment, but that is another tax policy argument. Perhaps the President forgot these facts. Then again, perhaps he didn't know them - unlikely - or maybe his ideology guides him otherwise.