A way to shift the tax burden from the median American, to the upper class investors

Financial Times: One of OpenAI’s early investors has proposed eliminating income tax on Americans earning less than $100,000 by raising capital gains levies, arguing politicians need to offset voter fears about AI taking their jobs.

Vinod Khosla said individuals’ capital gains should be taxed at the same level as income, which he has calculated would allow 125mn less affluent Americans to pay no federal income tax without hurting government revenues.

My Opinion: It's a good idea. To tax the middle class less. And they would represent millions of voters. So if the Republicans want to win elections, this would help them. But I am no longer living in USA. But I am invested in US large cap equities and tech equities. So a change in tax rules wouldn't impact me. Because capital gains are taxed in India, even for USA stocks – although dividends can be taxed in USA.

But as a general principle, I am for reducing taxes on the middle class. And that doesn't mean they won't be paying taxes. They will still be paying excise and payroll taxes. And possibly capital gains taxes. But we should try to shift more of the tax burden, to the upper class. To reduce inequality.