4 ms·
The general rule I tend to think of is that upward mobility in the wealth distribution is taxed, but position in the wealth distribution isn't. For example, ta
by barrkel 9y ago
The general rule I tend to think of is that upward mobility in the wealth distribution is taxed, but position in the wealth distribution isn't.
For example, take employee options, typically EMI in the UK. The tax advantages only exist for 10 years from option grant, and only while you continue to work for the company that granted them - the employee needs to maximize their value to the owners of capital. People with lots of capital already, OTOH, get tax incentives to invest.
- pjc50 9y agoExactly this. It's why the UK doesn't have a meaningful property tax, just the (capped) council tax and a tax on transfer of housing. The last time there was taxation that was genuinely order-redistributive on a large scale was death duties before the war on hereditary landowners who'd not yet figured out how to avoid them.