capital gains occur to a lot more people than just the "rich", yes?
among them are:
- any person who owns a stock and sells it for a profit (plenty of folks out there who hold "ESPP" shares and shares purchased through "DRIPs" who will get hit when they sell those shares) - any person who has a position in a mutual fund (and that fund itself doesn't necessarily have to be sold for an investor to get hit) - pension funds (the higher the tax rates that impact them, the less $$$ available to pay out the benefits)
this impacts a very large segment of the population far more than those who would be classified as "rich".
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