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Wealth taxes exist in other countries and are proposed by some people for the US. I was speaking generally and not in reference to a specific tax regime. And
by haberman 11y ago
Wealth taxes exist in other countries and are proposed by some people for the US. I was speaking generally and not in reference to a specific tax regime. And besides, converting the paintings to money would be necessary before it could be used for charitable purposes anyway, so the distinction you are drawing is not very relevant.
I'm not opposed to taxes but I am opposed to the idea that taxes should equalize everyone's wealth and that all big investment should come from the government.
- turar 11y agoMy point was that it's not fair that someone gets to pay a smaller tax rate just because his taxable base is larger. If anything, it should be the other way around. My original income tax vs. capital gains tax parallel was wrong though, but the premise is the same. If Joe Schmoe has managed to invest $5K in the stock market and grew it to $10K, his capital gains tax rate shouldn't be higher than Zuck's.