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There are successful countries with very high taxes and other means by which the society takes from individuals. Just the amount of how much is taken is not an
by madez 9y ago
There are successful countries with very high taxes and other means by which the society takes from individuals. Just the amount of how much is taken is not an important metric. It does not matter how much is taken, but under what circumstances, i.e. is it equal law and equally binding for everybody, was it decided in a democratic way, is it used for what it is intended for, and can it practically and effectively be challenged in a fair trial?
Please, let's discuss proposals, but reasonably and with thoughtful arguments, and not with "? It's his money that he actually decided to give away why should you or I have a say in it?".
- qaq 9y agoGive an example of successful country where ownership of stock is taxed.
- lkbm 9y agoWhy does it need to be ownership? Doesn't capital gains tax match his description?
- qaq 9y agoNope because people can have tax free access to their holdings by taking out loans against the stock. For individuals in question their stock appreciates a lot faster compared to the % they have to pay for the loan.
- madez 9y agoArticle 106 of the german Grundgesetz/constitution states that in Germany there is an ownership tax. It was used until 1997 when the former practice was ruled unlawful, but no adopted form of collection was introduced, while the government still has the right to collect ownership tax. There is an ongoing debate about reinstating the collection. AFAIK, France is currently collecting ownership tax. The USSR and North Korea suck because they are autocratic, corrupted regimes, not because of single aspects of how they run their economies. But even beside specific examples, if we decide that it is a good thing, then we can introduce new law.
- Erwin 9y agoAs I understand it, Netherlands have a wealth tax: rather than tax capital gains, net ownership is taxed at a 30% rate of assumed gain. So essentially you pay 0.6 to 1.5% of your shares, non-primary housing etc. in wealth tax depending on size of your assets. http://taxsummaries.pwc.com/ID/Netherlands-Individual-Income-determination http://taxsummaries.pwc.com/ID/Netherlands-Individual-Income...
- qaq 9y agovery reasonable system (although can be easy circumvented by moving). It would not have prevented anyone from accumulating the wealth that everyone is complaining about in this thread though.