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Progressive taxation is generally a thing we accept. I'm happy to pay more tax than my friends who don't earn as much too. Really? I'm livid I pay much more ta
by lacampbell 7y ago
Progressive taxation is generally a thing we accept. I'm happy to pay more tax than my friends who don't earn as much too.
Really? I'm livid I pay much more tax than those with a net worth much higher than mine. Real estate has all the tax benefits in my country, while gainful employment is punished.
- esotericn 7y agoRight, so you want it to be _more_ progressive, rather than the current imperfect state. It's broken in the UK as well. Capital gains taxes are tiny as compared to income. :P
- lacampbell 7y agoIf it were up to me we'd derive all our tax from things that actually effect the commons: land usage, water usage, pollution, waste. Taxing income or capital gains in the first place was a mistake.
- eanzenberg 7y agoUnfortunately the reality is this leads to a regressive tax structure, as history has shown. Intelligent people can accumulate wealth many orders of magnitude faster than the “unwashed masses.” I’m actually surprised by this since I assumed 99% of people are ok with progressive taxation. I believe the real argument lies in how progressive it is, as the extreme limit leads to the wealthy paying 99% of the taxes. I think currently the 1% pay 50% of the taxes in the US so the sliding scale it more towards progressivism anyways. You could argue how much more you can squeeze vs. the repercussions of such.