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This has been downvoted, can someone add a counter-argument for this? I.e. why should someone with higher wealth be able to pay less tax (in absolute and relati
by crispyporkbites 6y ago
This has been downvoted, can someone add a counter-argument for this? I.e. why should someone with higher wealth be able to pay less tax (in absolute and relative figures) than someone with lower wealth?
- influx 6y agoHow does one pay a wealth tax on an inherited house? Do they have to sell the house?
- crispyporkbites 6y agoNo you misunderstand- they only pay tax on income, but the % is based on their total wealth. Eg if I have a total net worth of 2mn, my income tax might be 50%, and if I have a total net worth of 0, my income tax could be just 10%. This would encourage people to earn more who have little now, and encourage people who have a lot to spend/scale back their earnings. Ideally it would lower the gap between lower and middle class people.
- dahdum 6y agoPossibly because your example penalizes frugal savers, or that your concern is focused on people making $100k+/yr.
- crispyporkbites 6y agoFrugal savers don’t really help the economy though. If we all were frugal nothing really moves. And this would apply to people earning 10k as much as people earning 100k
- erichocean 6y ago> Frugal savers don’t really help the economy though. "Greater love hath no man than this, that a man really help the economy"