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It's always been fascinating to me that "things that poor people spend most of their money on" is subject to a sales tax but "things rich people spend most of t
by Causality1 7y ago
It's always been fascinating to me that "things that poor people spend most of their money on" is subject to a sales tax but "things rich people spend most of their money on" isn't.
Services from beauty shops, car repair, home maintenance and repair? Taxed. Services from lawyers and accountants? Not taxed.
Buying a TV, food, gasoline? Taxed. Buying a piece of land or stocks? Not taxed.
- antisthenes 7y agoLand is taxed yearly. Stocks are taxed in cases where you profit from their sale. Dividends are also taxed in most cases as ordinary income. I can see merit in taxing both transactions for land in stocks, but it's inaccurate to say that they aren't taxed. You can also argue that buying land is way more necessary than a TV. Everyone needs to live on a piece of land, not everyone needs (or wants) a TV.
- Causality1 7y agoOther "poor people" expenses are subject to both sales tax and ownership tax, like vehicles.