I seriously doubt you know lots of middle class people doing this.<quoted text> You are seriously clueless. There are a lot of middle class people who live off capital gains and dividends.i know several people who buy stocks in the spring and fall when the price is low and sell in the winter and fall when the price is high. T is capital gains twice a year. They will pay double on that cutting the liveable earnings in half. All of them receive dividends too. That too will be taxed at a higher rate. again cutting their liveable income. Because you don't do it doesn't mean a lot others don't. A few have told me they are going back to their old line of work and just let it ride till this shitstorm is over. So you won't get any new revenue from them. In fact you will lose some.
Why is their income from trading pieces of paper any different from someone working a job for theirs?
Furthermore if they buy in the spring & sell in the fall as you said, they have not kept their investments long enough to qualify for the long term capital gains tax rate & their capital gain income would be taxed as ordinary income.
Did I just catch Flacktard in a big lie?