Investors & landlords

Collectibles are taxed as ordinary income, with a maximum of 28%.  Your ordinary income tax rate is either 10%, 12%, 22%, 24%, or higher depending on your tax bracket.  If your "blended rate" (which is not a real thing, just the average of all your taxes against all your income) is 11.something%, then most of your income is being taxed in the 12% bracket.