I'd hate that. I've never been rich, but I am a saver and I'm on the path to financial independence. To a large extent, my plan (the same plan advocated by Warren Buffet, Jack Bogle, etc.etc.) involves long term investing. (Yes, long-term investors pay capital gains taxes, especially mutual fund holders.) Reclassifying the taxing of capital gains could ruin this tried-and-proven scheme for the working class.