An open letter to President Obama - Phil's Rambling Rants — LiveJournal
An open letter to President Obama|
I poked around a little looking at historical tax rates and it appears that capital gains have always gotten favorable tax treatment.
The other note on capital gains is that there's no inflation protection built in. As a result, when you sell an investment, you may have a "real" loss (in terms of purchasing power), but pay a tax on your "income".