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Right, 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 compare
by esotericn 7y ago
Right, 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.