Obama Rejects Obamaism

http://www.nytimes.com/2011/09/20/opinion/brooks-obama-rejects-obamaism.html?_r=1&scp=3&sq=david%20brooks&st=cse

---------- Forwarded message ----------
From: barry levine 
Date: Tue, Sep 20, 2011 at 8:15 AM
Subject: re: Obama Rejects Obamaism
To: letters@nytimes.com


To the Editor:

  Mr. Brooks is entitled to his own opinions, but not to his own facts. The stratum of Americans who pay 31% tax on their salaries pay far less than that on their income because salary is only a small part of their income; income on Capital Gains is taxed at less than half that rate. Traders on Wall Street have long exploited this deception, claiming their contractual compensation (what normal people call "salary") as "capital gains" precisely to get this lower tax rate.

Barry Haskell Levine