I can't speak to to what the differences of Obama vs. McCain, but most "rich" are concerned with capital gains taxes, which are taxes paid on any investment profits. Buy a house, sell it for a profit? Pay taxes not on the whole sale price, but only on the gain from what you sold minus what you paid.
Investment instruments like stocks and bonds? pay taxes only on what profits you made.
think of it like a slightly different form of income tax because it is a way that many make income without having to "work" (trading time for money going to a job)
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