At the age of 12, I inherited $2000 from a distant relative who shall remain nameless.  I invested that money in a mutual fund.  At the age of 13, I discovered that, because I earned money in capitol gains, I had to pay capitol gains tax.  I was 13.  I didn't have a job.  I wasn't even old enough to legally earn any money, but I had to pay the US Government $40 at the age of 13 because they taxed capital gains at 15% regardless of your income as a way to "tax the rich" who were using "loopholes" to avoid paying taxes on investments since they had no income from jobs.  I will never forgive Bill Clinton for that.
9 years ago


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