eliminate preferences for investment income by raising the tax rates on both capital gains and dividends income to 28%.

The loophole for investment income is one of the biggest ones that exist, worth about $440 billion over the next five years. If the goal is for rich people to pay more in taxes, this is the most important loophole to close. Lower rates on investment income overwhelmingly benefit not just the modestly affluent, but the super-rich. According to the Tax Policy Center, households that make more than $1 million make up just 0.3 percent of all households but reap 67 percent of the benefits of this one loophole. Taxing income from investments the same as we tax income from labor would raise hundreds of billions of dollars in revenue almost exclusively from people who can afford it. It would be great to fight for equal treatment of labor and capital, and a smaller national debt, at the same time.