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The money was already tax when the original "owner" received it.
by donretag 10y ago
The money was already tax when the original "owner" received it.
- yequalsx 10y agoAll money is taxed multiple times. The basic principle behind taxation is that when you receive a profit you pay a tax on it. There are exceptions. The money I earn is taxed. When I spend my after tax money to buy a car it gets taxed. The car dealership pays tax on the profit generated by my purchase even though I already payed income tax on the money I used to buy the car. All money is "infinitely" taxed. When I find a million dollars on the street I owe tax on it. Why not when I get the money because someone died?
- EliRivers 9y agoWhen I buy a chocolate bar, the store owner shouldn't pay tax because I already did, and the store employees likewise shouldn't pay tax because I paid tax on the money they're being paid with. Extend to everything else anyone ever spends money on. I can see a problem with this system.